0001104659-21-102129 | 10-Q | XBRL Viewer

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Cover Page - shares	9 Months Ended
Cover Page - shares	Jun. 30, 2021	Aug. 05, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-38720
Entity Registrant Name	Twist Bioscience Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-2058888
Entity Address, Address Line One	681 Gateway Blvd
Entity Address, State or Province	CA
Entity Address, City or Town	South San Francisco
Entity Address, Postal Zip Code	94080
City Area Code	800
Local Phone Number	719-0671
Title of 12(b) Security	Common Stock
Trading Symbol	TWST
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		49,292,036
Amendment Flag	false
Entity Central Index Key	0001581280
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020
Current assets
Cash and cash equivalents	$ 475,279	$ 93,667
Short-term investments	44,129	196,335
Accounts receivable, net	28,116	26,376
Inventories	21,224	12,289
Prepaid expenses and other current assets	7,859	6,203
Total current assets	576,607	334,870
Property and equipment, net	37,864	25,466
Operating lease right-of-use assets	62,803	33,699
Goodwill	22,676	1,138
Intangible assets, net	18,562	307
Restricted cash, non-current	1,530	579
Other non-current assets	5,256	2,823
Total assets	725,298	398,882
Current liabilities
Accounts payable	11,268	4,830
Accrued expenses	4,867	3,901
Accrued compensation	19,523	14,945
Current portion of operating lease liabilities	7,545	6,409
Current portion of long-term debt	2,365	3,333
Other current liabilities	9,265	2,611
Total current liabilities	54,833	36,029
Operating lease liabilities, net of current portion	53,849	24,837
Long-term debt, net of current portion		1,403
Other non-current liabilities	6,168	351
Total liabilities	114,850	62,620
Commitments and contingencies (Note 6)
Stockholders' equity
Common stock, $0.00001 par value 100,000 and 100,000 shares authorized at June 30, 2021 and September 30, 2020, respectively; 49,263 and 45,083 shares issued and outstanding as of June 30, 2021 and September 30, 2020, respectively		0
Additional paid-in capital	1,179,331	794,630
Accumulated other comprehensive income	428	87
Accumulated deficit	(569,311)	(458,455)
Total stockholders' equity	610,448	336,262
Total liabilities and stockholders' equity	$ 725,298	$ 398,882

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Jun. 30, 2021	Sep. 30, 2020
Condensed Consolidated Balance Sheets
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, share authorized	100,000	100,000
Common stock, share issued	49,263	45,083
Common stock, share outstanding	49,263	45,083

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Condensed Consolidated Statements of Operations and Comprehensive Loss
Revenues	$ 35,018	$ 21,207	$ 94,382	$ 57,668
Operating expenses:
Cost of revenues	20,933	16,472	58,123	43,829
Research and development	19,838	10,444	49,629	31,369
Selling, general and administrative	34,478	22,487	97,658	76,082
Change in fair value of acquisition consideration	1,887	0	1,887	0
Litigation settlement		0		22,500
Total operating expenses	77,136	49,403	207,297	173,780
Loss from operations	(42,118)	(28,196)	(112,915)	(116,112)
Interest income	86	247	377	1,388
Interest expense	(70)	(181)	(284)	(644)
Other income (expense), net	(312)	(56)	(305)	(125)
Loss before income taxes	(42,414)	(28,186)	(113,127)	(115,493)
Benefit from (provision for) income taxes	2,377	(21)	2,271	(120)
Net loss attributable to common stockholders	(40,037)	(28,207)	(110,856)	(115,613)
Other comprehensive loss:
Change in unrealized gain on investments	(12)	(74)	(10)	(47)
Foreign currency translation adjustment	250	(5)	351	0
Comprehensive loss	$ (39,799)	$ (28,286)	$ (110,515)	$ (115,660)
Net loss per share attributable to common stockholders-basic and diluted (in dollars per share)	$ (0.82)	$ (0.67)	$ (2.32)	$ (3.09)
Weighted average shares used in computing net loss per share attributable to common stockholders-basic and diluted (in shares)	48,963	41,838	47,881	37,463

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Accumulated deficit [Member]	Total
Beginning Balance at Sep. 30, 2019		$ 470,425	$ 181	$ (318,524)	$ 152,082
Beginning Balance , shares at Sep. 30, 2019	32,873
Issuance of common stock in public offering, net of underwriting discounts and commissions and offering expenses		295,680			295,680
Issuance of common stock in public offering, net of underwriting discounts and commissions and offering expenses, shares	11,064
Vesting of restricted stock units	149
Exercise of stock options		5,005			5,005
Exercise of stock options , shares	540
Issuance of shares under the employee stock purchase plan		1,522			1,522
Issuance of shares under the employee stock purchase plan , shares	58
Repurchases of early exercised stock options, shares	(2)
Repurchases of common stock for income tax withholding		(1,648)			(1,648)
Repurchases of common stock for income tax withholding , shares	(59)
Stock-based compensation		11,965			11,965
Other comprehensive income (loss)			(47)		(47)
Net loss				(115,613)	(115,613)
Ending Balance at Jun. 30, 2020	$ 0	782,949	134	(434,137)	348,946
Ending Balance , shares at Jun. 30, 2020	44,623
Beginning Balance at Mar. 31, 2020		669,919	213	(405,930)	264,202
Beginning Balance , shares at Mar. 31, 2020	40,970
Issuance of common stock in public offering, net of underwriting discounts and commissions and offering expenses		107,507			107,507
Issuance of common stock in public offering, net of underwriting discounts and commissions and offering expenses, shares	3,486
Vesting of restricted stock units	29
Exercise of stock options		1,901			1,901
Exercise of stock options , shares	151
Repurchases of early exercised stock options, shares	(1)
Repurchases of common stock for income tax withholding		(450)			(450)
Repurchases of common stock for income tax withholding , shares	(12)
Stock-based compensation		4,072			4,072
Other comprehensive income (loss)			(79)		(79)
Net loss				(28,207)	(28,207)
Ending Balance at Jun. 30, 2020	$ 0	782,949	134	(434,137)	348,946
Ending Balance , shares at Jun. 30, 2020	44,623
Beginning Balance at Sep. 30, 2020		794,630	87	(458,455)	336,262
Beginning Balance , shares at Sep. 30, 2020	45,083
Issuance of common stock in public offering, net of underwriting discounts and commissions and offering expenses	$ 0	323,861	0	0	323,861
Issuance of common stock in public offering, net of underwriting discounts and commissions and offering expenses, shares	3,136
Vesting of restricted stock units	178
Exercise of stock options		11,756			11,756
Exercise of stock options , shares	629
Business acquisition		26,773			26,773
Business acquisition, shares	237
Issuance of shares under the employee stock purchase plan		2,787			$ 2,787
Issuance of shares under the employee stock purchase plan , shares	49				49
Net exercise of stock warrants , shares	22
Repurchases of early exercised stock options, shares	(2)
Repurchases of common stock for income tax withholding		(8,227)			$ (8,227)
Repurchases of common stock for income tax withholding , shares	(69)
Stock-based compensation		27,751			27,751
Other comprehensive income (loss)			341		341
Net loss				(110,856)	(110,856)
Ending Balance at Jun. 30, 2021	$ 0	1,179,331	428	(569,311)	610,448
Ending Balance , shares at Jun. 30, 2021	49,263
Beginning Balance at Mar. 31, 2021		1,143,265	190	(529,274)	614,181
Beginning Balance , shares at Mar. 31, 2021	48,860
Vesting of restricted stock units	57
Exercise of stock options		2,619			2,619
Exercise of stock options , shares	132
Business acquisition		26,773			26,773
Business acquisition, shares	237
Public offering expense adjustment		(26)			(26)
Repurchases of common stock for income tax withholding		(2,476)			(2,476)
Repurchases of common stock for income tax withholding , shares	(23)
Stock-based compensation		9,176			9,176
Other comprehensive income (loss)			238		238
Net loss				(40,037)	(40,037)
Ending Balance at Jun. 30, 2021	$ 0	$ 1,179,331	$ 428	$ (569,311)	$ 610,448
Ending Balance , shares at Jun. 30, 2021	49,263

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Common Stock [Member]
Net of underwriting discounts, commissions and offering expenses	$ 7,487	$ 21,139	$ 18,798

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net loss	$ (110,856)	$ (115,613)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	7,319	4,788
Loss on disposal of property and equipment	2	0
Non-cash lease expense	1,044	(1,239)
Stock-based compensation	27,751	11,965
Discount (premium) accretion on investment securities	501	(243)
Realized gain on investments	(5)	0
Change in fair value of acquisition consideration	1,887	0
Non-cash interest expense	58	122
Bad debts expense	183	0
Amortization of debt discount	70	148
Changes in assets and liabilities, net of acquisition:
Accounts receivable, net	(1,912)	(1,243)
Inventories	(8,914)	(5,831)
Prepaid expenses and other current assets	(1,617)	(3,714)
Other non-current assets	(2,333)	(424)
Accounts payable	5,194	(3,815)
Accrued expenses	1,546	(3,362)
Accrued compensation	4,588	832
Other liabilities	(1,947)	576
Net cash used in operating activities	(77,441)	(117,053)
Cash flows from investing activities
Purchases of property and equipment	(18,972)	(7,643)
Business acquisition, net of cash acquired	(483)	0
Purchases of investments	(58,795)	(110,438)
Proceeds from maturity of investments	210,494	98,100
Net cash provided by (used in) investing activities	132,244	(19,981)
Cash flows from financing activities
Proceeds from exercise of stock options	11,686	4,977
Proceeds from public offerings, net of underwriting discounts and commissions and offering expenses	323,861	295,807
Proceeds from issuance of common stock under employee stock purchase plan	2,787	1,522
Repayments of debt	(2,500)	(2,500)
Repurchases of common stock for income tax withholding	(8,227)	(1,648)
Net cash provided by financing activities	327,607	298,158
Effect of exchange rates on cash, cash equivalents and restricted cash	153	(6)
Net increase in cash, cash equivalents, and restricted cash	382,563	161,118
Cash, cash equivalents, and restricted cash at beginning of period	94,246	47,398
Cash, cash equivalents, and restricted cash at end of period	476,809	208,516
Supplemental disclosure of cash flow information
Interest paid	145	363
Income taxes paid, net of refunds	47	120
Non-cash investing and financing activities
Property and equipment additions included in accounts payable and accrued expenses	1,777	22
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	33,617	3,718
Offering expenses included in accounts payable and accrued expenses		127
Issuance of common stock in connection with the iGenomX acquisition	$ 26,773	$ 0

The company

9 Months Ended

Jun. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The Company

1. The Company

Twist Bioscience Corporation (the Company) was incorporated in the state of Delaware on February 4, 2013. The Company is a synthetic biology and genomics company that has developed a disruptive DNA synthesis platform. DNA is used in many applications across different industries: industrial chemicals, academic, healthcare and agriculture. The Company’s fiscal year ends on September 30.

The Company has generated net losses in all periods since its inception. As of June 30, 2021, the Company had an accumulated deficit of $569.3 million and has not generated positive cash flows from operations since inception. Losses are expected to continue as the Company continues to invest in product development, manufacturing, and sales and marketing.

Since its inception, the Company has received an aggregate of $1,063.9 million in net proceeds from the issuance of equity securities and an aggregate of $13.8 million from debt. Management believes that these proceeds combined with existing cash balances on hand will be sufficient to fund operations for at least one year from the issuance of these consolidated financial statements. However, if the Company needs to obtain additional financing to fund operations beyond this period, there can be no assurance that it will be successful in raising additional financing on terms which are acceptable to the Company.

If the Company requires but is unable to obtain additional funding, the Company could be forced to delay, reduce or eliminate some or all of its research and development programs, product portfolio expansion or commercialization efforts, which could adversely affect its business prospects, or the Company may be unable to continue operations.

During the three and nine months ended June 30, 2021, financial results of the Company were not significantly affected by the COVID-19 pandemic, which continues to have global impact. The Company has considered all information available as of the date of issuance of these financial statements and the Company is not aware of any specific events or circumstances that would require an update to its estimates or judgments, or a revision to the carrying value of its assets or liabilities. These estimates may change as new events occur and additional information becomes available. The extent to which the COVID-19 outbreak affects the Company’s future financial results and operations will depend on future developments which continue to evolve and are difficult to predict, including new information concerning mutations in the SARS-CoV-2 virus, which may make it more contagious, and current or future domestic and international actions to contain it and treat it.

Summary of significant accounting policies

9 Months Ended

Jun. 30, 2021

Summary of significant accounting policies

Summary of significant accounting policies

2. Summary of significant accounting policies

Basis of presentation and use of estimates

The accompanying unaudited condensed consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information. Certain information and disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes included in the Annual Report on Form 10-K for the fiscal year ended September 30, 2020 (the Annual Report on Form 10-K) dated November 27, 2020. The condensed consolidated financial statements are unaudited and have been prepared on a basis consistent with that used to prepare the audited annual consolidated financial statements and include, in the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair statement of the condensed consolidated financial statements. The condensed consolidated balance sheet at September 30, 2020 is derived from audited consolidated financial statements but does not include all disclosures required by GAAP. The operating results for the three and nine months ended June 30, 2021 are not necessarily indicative of the results expected for the full year ending September 30, 2021 or any interim period.

The presentation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company’s unaudited condensed consolidated financial statements include its wholly owned subsidiaries. All intercompany balances and accounts are eliminated in consolidation.

The following table provides a reconciliation of the Company’s cash and cash equivalents, current portion of restricted cash and non-current portion of restricted cash reported within the unaudited condensed consolidated balance sheets that sum to the total cash, cash equivalents and restricted cash shown in the Company’s condensed consolidated statements of cash flows:


	June 30,		September 30,
(in thousands)	2021		2020
Cash and cash equivalents	$	475,279	$	93,667
Restricted cash, non-current		1,530		579
Total cash, cash equivalents and restricted cash	$	476,809	$	94,246

Significant accounting policies

There have been no material changes in the accounting policies from those disclosed in the audited consolidated financial statements and the related notes included in the Annual Report on Form 10-K.

Recent accounting pronouncements

Changes to GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of accounting standards updates (“ASUs”) to the FASB’s Accounting Standards Codification (“ASC”). The Company considered the applicability and impact of all recent ASUs. ASUs not listed below were assessed and determined to be not applicable to the Company’s consolidated financial position and results of operations.

Recently issued accounting pronouncements not yet adopted

In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The new standard requires entities to use the new “expected credit loss” impairment model for most financial assets measured at amortized cost, including trade and other receivables and held-to-maturity debt securities, and modifies the impairment model for available-for-sale debt securities. The standard is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Early application is permitted. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements.

In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This ASU simplifies the subsequent measurement of goodwill. The ASU eliminates step 2 from the goodwill impairment test, including for reporting units with a zero or negative carrying amount that fail a qualitative test. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. This ASU should be applied on a prospective basis. This ASU is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2020. The Company is currently assessing the impact of adoption on its disclosures.

In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes. The ASU simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in ASC 740, Income Taxes, related to the approach for allocating income tax expense or benefit for the year to continuing operations, discontinued operations, other comprehensive income, and other charges or credits recorded directly to shareholders’ equity; the methodology for calculating income taxes in an interim period; and the recognition of deferred tax liabilities for outside basis differences. The ASU is effective for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years, with early adoption permitted. The Company is currently assessing the impact of adoption on its disclosures.

Fair value measurement

9 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Fair value measurement

3. Fair value measurement

The Company assesses the fair value of financial instruments based on the provisions of ASC 820, Fair Value Measurements. ASC 820 defines fair value 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. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value:

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

Level 2—Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. The Company short-term investments primarily utilize broker quotes in a non-active market for valuation of its short-term investments.

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

In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considers counterparty credit risk in its assessment of fair value.

The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2021 and September 30, 2020 and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value.


	June 30, 2021
(in thousands)	Level 1		Level 2		Level 3		Fair value
Assets
Cash	$	37,007	$	—	$	—	$	37,007
Money market funds		438,272		—		—		438,272
Commercial paper		—		7,998		—		7,998
U.S. government treasury bills		36,131		—		—		36,131
Total financial assets	$	511,410	$	7,998	$	—	$	519,408

Liabilities
Contingent consideration and indemnity holdback	$	—	$	12,278	$	—	$	12,278
Total financial liabilities	$	—	$	12,278	$	—	$	12,278


	September 30, 2020
(in thousands)	Level 1		Level 2		Level 3		Fair value
Assets
Cash	$	20,254	$	—	$	—	$	20,254
Money market funds		73,413		—		—		73,413
Commercial paper		—		94,840		—		94,840
U.S. government treasury bills		101,495		—		—		101,495
Total financial assets	$	195,162	$	94,840	$	—	$	290,002

As of June 30, 2021 and September 30, 2020, gross unrealized gains and unrealized losses for cash equivalents and short-term investments were not material, and the contractual maturities of all marketable securities were less than one year.

- 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

Balance sheet components

9 Months Ended

Jun. 30, 2021

Balance Sheet Related Disclosures [Abstract]

Balance sheet components

4. Balance sheet components

The Company’s accounts receivable, net balance consists of the following:


	June 30,		September 30,
(in thousands)	2021		2020
Trade Receivables	$	23,558	$	25,790
Other Receivables		5,039		951
Allowance for Doubtful Accounts		(481)		(365)
Accounts Receivable, net	$	28,116	$	26,376

Inventory amounts consist of the following:


	June 30,		September 30,
(in thousands)	2021		2020
Raw Materials	$	15,742	$	9,237
Work-in-process		2,537		2,021
Finished Goods		2,945		1,031
	$	21,224	$	12,289

Goodwill and intangible assets

9 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets

5. Goodwill and intangible assets

During the three months ended June 30, 2021, the goodwill balance and intangible assets were increased by $21.5 million and $18.4 million as a result of a business acquisition. See Note 14, “Business Acquisition”. Total amortization expense related to intangible assets was less than $0.1 million for the three months ended June 30, 2021 and 2020.

The intangible assets balances are presented below:


	June 30, 2021
	Useful	Gross
	life in	carrying		Accumulated		Net book
(in thousands, except for years)	years	amount		amortization		value
Developed Technology	1.5 - 17	$	19,120	$	(1,068)	$	18,052
Tradenames & Trademarks	2		20		(20)		—
Customer relationships	1.5		510		—		510
Total intangible assets		$	19,650	$	(1,088)	$	18,562


	September 30, 2020
	Useful	Gross
	life in	carrying		Accumulated		Net book
(in thousands, except for years)	years	amount		amortization		value
Developed Technology	6	$	1,220	$	(913)	$	307
Tradenames & Trademarks	2		20		(20)		—
Total intangible assets		$	1,240	$	(933)	$	307

Commitments and contingencies

9 Months Ended

Jun. 30, 2021

Commitments and contingencies [Abstract]

Commitments and contingencies

6. Commitments and contingencies

We may be subject to litigation, claims and disputes in the ordinary course of business. There is an inherent risk in any litigation or dispute and no assurance can be given as to the outcome of any claims.

Indemnifications

In the ordinary course of business, the Company enters into agreements that may include indemnification provisions. Pursuant to such agreements, the Company may indemnify, hold harmless and defend the indemnified parties for losses suffered or incurred by the indemnified party. Some of the provisions will limit losses to those arising from third-party actions. In some cases, the indemnification will continue after the termination of the agreement. The maximum potential amount of future payments the Company could be required to make under these provisions is not determinable. To date, the Company has not incurred material costs to defend lawsuits or settle claims related to these indemnification provisions. The Company has also entered into indemnification agreements with its directors and officers that may require it to indemnify its directors and officers against liabilities that may arise by reason of their status or service as directors or officers to the fullest extent permitted by corporate law. The Company also has directors’ and officers’ insurance.

Leases

The Company leases certain of its facilities under non-cancellable operating leases expiring at various dates through 2026. The Company is also responsible for utilities, maintenance, insurance, and property taxes under these leases.

Certain leases include options to renew or terminate at the Company’s discretion. The lease terms include periods covered by these options if it is reasonably certain the Company will renew or not terminate. The Company’s lease agreements do not contain any material residual value guarantees or restrictive covenants.

Supplemental balance sheet information related to the Company’s operating lease as of June 30, 2021, was the following:


	June 30,
(in thousands)	2021
Assets:
Operating lease right-of-use-asset	$	62,803
Current liabilities:
Current portion of operating lease liabilities	$	7,545
Noncurrent liabilities:
Operating lease liabilities, net of current portion	$	53,849

Future minimum lease payments under all non-cancelable operating leases as of June 30, 2021 are as follows:


	Operating
(in thousands)	leases
Years ending September 30:
Remainder of 2021	$	1,390
2022		8,909
2023		10,552
2024		10,293
2025		10,445
Thereafter		92,536
Total minimum lease payments	$	134,125
Less: imputed interest		(55,103)
Less: tenant improvement allowance (receipt anticipated in 2022)		(17,628)
Total operating lease liabilities	$	61,394
Less: current portion		(7,545)
Operating lease liabilities, net of current portion	$	53,849

For the year ended September 30, 2022, future minimum lease payments are comprised of the anticipated receipt of tenant improvement allowances totaling $17.6 million anticipated to be received in 2022, partially offset by non-cancelable operating lease payments of $8.9 million. The statement of cash flows for the nine months ended June 30, 2021, include changes in right-of-use assets and operating lease liabilities of $29.1 million and $30.1 million, respectively. For the nine months ended June 30, 2020, changes in right-of-use assets and operating lease liabilities were $0.7 million and $1.9 million, respectively.

During the three and nine months ended June 30, 2021, operating lease expense was $2.7 million and $6.5 million, respectively. Cash payments for amounts included in the measurement of operating lease liabilities for the three and nine months ended June 30, 2021 were $1.9 million and $5.4 million, respectively. As of June 30, 2021, the weighted-average remaining lease term was 17.11 years and the weighted-average discount rate was 6.42%.

In December 2020, the Company entered into a 12-year operating lease for a 110,995 square-foot facility in Wilsonville, Oregon to further expand the Company operations. Upon execution of the lease agreement, the Company provided the landlord an approximately $1.0 million security deposit in the form of a letter of credit. Subject to certain conditions pursuant to the lease, the Company expects monthly rent payments on the new facility to commence in the first quarter of 2022. The Company will pay an initial annual base rent of approximately $1.7 million, which is subject to scheduled 3% annual increases, plus certain operating expenses. The Company has been provided a tenant improvement allowance of $13.3 million. The Company has the right to sublease the facility, subject to landlord consent. The Company also has the option to extend the lease for two terms of five years. The lease has commenced on April 15, 2021. The future minimum lease payments under the agreement are $27.9 million.

On April 13, 2021, the Company entered into a first amendment (the "First Lease Amendment"), which amends the terms of the Wilsonville, Oregon lease agreement dated December 18, 2020. The First Lease Amendment increases the premises originally leased within the same building by approximately 101,000 square feet (the "Additional Premises"). The Company intends to use the Additional Premises to support its additional product offerings, including DNA data storage, or other high value growth product lines. The First Lease Amendment also extends the termination date until April 1, 2034 and modifies the Company's option to extend the term to an additional 10-year term for the Premises. Additional rent under the First Lease Amendment for the Additional Premises commences April 1, 2022 with approximately $1.2 million in rent payments due the first year and approximately $17.6 million in aggregate estimated rent payments due over the total initial term of the First Lease Amendment. In addition, the First Lease Amendment increases the base rental payments relating to the Original Premises by 3% for the period in which the First Lease Amendment extends the term of the original premises. The Company is obligated to pay approximately 26% of the operating expenses and utilities applicable to the Additional Premises. The Landlord will provide the Company with a tenant improvement allowance in connection with the Company's improvements to the Additional Premises of approximately $4.3 million.

On April 14, 2021, the Company entered into a 5-year operating lease for a 15,538-square-feet warehouse in Brisbane, California to further expand the Company operations. Upon execution of the lease agreement, the Company provided the landlord an approximately $0.2 million security deposit. The Company will pay an initial annual base rent of approximately $0.3 million, which is subject to scheduled 3% annual increases, plus certain operating expenses. The Company has the right to sublease the facility, subject to landlord consent. The total future minimum lease payments under the agreement are $2.2 million.

Related party transactions

9 Months Ended

Jun. 30, 2021

Related party transactions

7. Related party transactions

During the three months ended June 30, 2021 and 2020, the Company purchased raw materials from a related party investor in the amount of $1.2 million and $1.1 million, respectively. During the nine months ended June 30, 2021 and 2020, the Company purchased raw materials from a related party investor in the amount of $3.5 million and $2.7 million, respectively. Payable balances and cash receipts and receivable balances with the related party investor were immaterial as of June 30, 2021 and September 30, 2020.

Income taxes

9 Months Ended

Jun. 30, 2021

Income taxes [Abstract]

Income taxes

8. Income taxes

In determining quarterly provisions for income taxes, the Company uses the annual estimated effective tax rate applied to the actual year-to-date profit or loss, adjusted for discrete items arising in that quarter. The Company’s annual estimated effective tax rate differs from the U.S. federal statutory rate primarily as a result of state taxes, foreign taxes, and changes in the Company’s valuation allowance against its deferred tax assets. For the three and nine months ended June 30, 2021 the Company recorded $2.4 million and $2.3 million income tax benefit due to the deferred tax liability assumed as part of the business acquisition (see Note 14, “Business acquisition”). For the three and nine months ended June 30, 2020, the Company recorded an immaterial provision for income taxes.

- 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 + Details

Warrants

9 Months Ended

Jun. 30, 2021

Text Block [Abstract]

Warrants

9. Warrants

In connection with its long-term debt agreements, the Company issued 18,854 and 7,531 warrants for its common stock on December 22, 2015 and March 28, 2016, respectively. As of September 30, 2020, there were 26,385 warrants outstanding. In October 2020, a total of 18,854 warrants with an exercise price of $14.85 per common share were net exercised for a net 16,051 common shares issued by the Company. In November 2020, a total of 7,531 warrants with an exercise price of $21.24 per common share were net exercised for a net 6,041 common shares issued by the Company. There are no outstanding warrants for the Company’s common stock as of June 30, 2021.

Common stock

9 Months Ended

Jun. 30, 2021

Equity [Abstract]

Common stock

10. Common stock

In December 2019, the Company entered into a sales agreement with Cowen and Company, LLC for an at-the-market offering (ATM) to offer and sell shares of its common stock having an aggregate offering price of up to $50.0 million from time to time. The offering was completed during December 2019 and January 2020. During this period, the Company sold a total of 2,239,680 shares of its common stock at a weighted-average price of $22.32 per share and received total net proceeds of $48.0 million under the ATM, net of estimated underwriting discounts and commissions and offering expenses.

In February 2020, the Company completed an underwritten public offering of 4,642,857 shares of its common stock at a price to the public of $28.00 per share, including the full exercise of the underwriters’ option to purchase an additional 696,428 shares of common stock. The Company received total net proceeds from the offering of $140.2 million, net of estimated underwriting discounts and commissions and offering expenses.

In June 2020, the Company completed an underwriting public offering of 3,484,848 shares of its common stock at a price to the public of $33.00 per share, including the full exercise of underwriters’ option to purchase an additional 454,545 shares of common stock. The Company received total net proceeds from the offering of $107.4 million, net of estimated underwriting discounts and commissions and offering expenses.

In December 2020, the Company completed an underwriting public offering of 3,136,362 shares of its common stock at a price to the public of $110.00 per share, including the full exercise of underwriters’ option to purchase an additional 409,090 shares of common stock. The Company received total net proceeds from the offering of $323.9 million, net of estimated underwriting discounts and commissions and offering expenses.

Stock-based compensation

9 Months Ended

Jun. 30, 2021

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-based compensation

11. Stock-based compensation

2018 Equity Incentive Plan

On September 26, 2018, the board of directors adopted the 2018 Equity Incentive Plan (the 2018 Plan) as a successor to the 2013 Stock Plan (the 2013 Plan). The number of shares reserved for issuance under the 2018 Plan upon approval of the plan was 5,856,505 shares of the Company’s common stock. The number of shares reserved for issuance under the 2018 Plan will increase automatically on the first day of each fiscal year, following the fiscal year in which the 2018 Plan became effective, by a number equal to the least of 999,900 shares, 4% of the shares of common stock outstanding at that time, or such number of shares determined by the Company’s board of directors. The common shares issuable under the 2018 Plan were registered pursuant to a registration statement on Form S-8 on November 1, 2018.

On September 1, 2020, the board of directors approved the implementation of a revised annual equity award program for executive officers and senior level employees to be granted as performance-based stock units (PSUs) under the 2018 Plan. The number of PSUs ultimately earned under these awards is calculated based on the achievement of certain total revenue threshold during the fiscal year ending September 30, 2022. The percentage of PSUs that vest will depend on the board of directors’ determination of total revenue at the end of the performance period and can range from 0% to 150% of the number of units granted. The provisions of the PSUs are considered a performance condition, and the effects of that performance condition are not reflected in the grant date fair value of the awards. The Company used the Black-Scholes method to calculate the fair value at the grant date without regard to the vesting condition and will recognize compensation cost for the units that are expected to vest. As of June 30, 2021, the Company determined that 264,900 shares are expected to vest based on the probability of the performance condition that will be achieved under this equity award program. The Company reassesses the probability of the performance condition at each reporting period and adjusts the compensation cost based on the probability assessment. During the period ended June 30, 2021, the Company changed its estimate of the probability of meeting the performance conditions for the PSU grants. The previous estimate was based on data and assumptions that were the best available information at the time. During the third quarter of 2021, the Company obtained new data, previously unavailable, from new, internal forecasts and projections. The new data indicate that the PSU grants are expected to be larger than previously estimated. As a result, the Company has changed its estimate of its PSU stock-based compensation on a prospective basis beginning in the third quarter of 2021. This change resulted in an increase of approximately $0.6 million in stock-based compensation expense for the three and nine months ended June 30, 2021. The weighted-average grant date fair value was determined to be $45.01 per share. As of June 30, 2021, the unrecognized compensation costs related to these awards were $7.2 million. The Company expects to recognize those costs over a weighted average period of 1.25 years.

Any shares subject to outstanding awards under the 2013 Equity Incentive Plan that are canceled or repurchased subsequent to the 2018 Plan’s effective date are returned to the pool of shares reserved for issuance under the 2018 Plan. Awards granted under the 2018 Plan may be nonstatutory stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, and performance units.

Activity under the equity incentive plans during the nine months ended June 30, 2021 is summarized below:


			Weighted		Weighted
			average		average
			exercise		remaining	Aggregate
	Shares	Options	price per		contractual	intrinsic
(in thousands, except per share data)	available	outstanding	share		term (years)	value
Outstanding at September 30, 2020	1,034	3,913	$	24.35	8.1	$	204,365
Additional shares authorized	1,000	—		—	—		—
Stock options granted	(157)	157	$	46.59	—		—
Stock options exercised	—	(632)	$	18.62	—		—
Stock options forfeited	99	(99)	$	39.92	—		—
Restricted stock units granted	(370)	—		—	—		—
Forfeiture of restricted stock units	35	—		—	—		—
Shares withheld for payment of taxes	69	—		—	—		—
Outstanding at June 30, 2021	1,710	3,339	$	26.35	7.5	$	358,150
Vested or expected to vest at June 30, 2021		3,339	$	26.35	7.5	$	358,150
Vested and exercisable at June 30, 2021		1,586	$	17.08	6.8	$	184,229

Total stock-based compensation expense recognized was as follows:


	Three months ended				Nine months ended
	June 30,				June 30,
(in thousands)	2021		2020		2021		2020
Cost of revenues	$	773	$	279	$	1,990	$	890
Research and development		2,753		833		7,180		2,357
Selling, general and administrative		5,650		2,960		18,581		8,718
Total stock-based compensation	$	9,176	$	4,072	$	27,751	$	11,965

As of June 30, 2021, there was $30.5 million of total unrecognized compensation cost related to non-vested stock options under the equity incentive plans that are expected to be recognized over a weighted average period of 1.8 years. The weighted-average grant date fair value of stock options granted during the three months ended June 30, 2021 was $38.74 per share.

Restricted Stock Units

Restricted stock primarily consists of restricted stock unit awards (RSUs) which have been granted to employees. The value of an RSU award is based on the Company’s stock price on the date of grant. The shares underlying the RSU awards are not issued until the RSUs vest. Upon vesting, each RSU converts into one share of the Company’s common stock.

Activity with respect to the Company’s restricted stock units during the nine months ended June 30, 2021 was as follows:


		Weighted		Weighted
		average		average
	Number	grant date		remaining	Aggregate
	of	fair value		contractual	Intrinsic
(in thousands, except per share data)	Shares	per share		term (years)	Value
Outstanding at September 30, 2020	569	$	32.96	3.2	$	43,260
Restricted stock units granted	370	$	112.31	—		—
Restricted stock units vested	(178)	$	41.09	—		—
Restricted stock units forfeited	(35)	$	83.71	—		—
Outstanding at June 30, 2021	726	$	68.93	2.8	$	96,756
Expected to vest at June 30, 2021	726	$	68.93	2.8	$	96,756

As of June 30, 2021, there was $45.7 million of total unrecognized compensation cost related to these issuances that is expected to be recognized over a weighted average period of 2.8 years.

2018 Employee Stock Purchase Plan

On September 26, 2018, the board of directors adopted the 2018 Employee Stock Purchase Plan (the 2018 ESPP). The number of shares reserved for issuance under the 2018 ESPP upon approval was 275,225 shares of the Company’s common stock, and it increases automatically on the first day of each fiscal year, following the fiscal year in which the 2018 ESPP becomes effective, by a number equal to the least of 249,470 shares, 1% of the shares of common stock outstanding at that time, or such number of shares determined by the Company’s board of directors. The number of shares reserved for issuance as at June 30, 2021 is as follows:


		Shares
(in thousands)		available
Outstanding at September 30, 2020		179
Additional shares authorized		250
Shares issued during the period		(49)
Outstanding at June 30, 2021		380

Subject to any plan limitations, the 2018 ESPP allows eligible service providers (through qualified and non-qualified offerings) to contribute, normally through payroll deductions, up to 15% of their earnings for the purchase of the Company’s common stock at a discounted price per share. The offering periods begin in February and August of each year, except for the initial offering period which commenced with the initial public offering in October 2018 and ended on August 20, 2019. The common shares issuable under the 2018 ESPP were registered pursuant to a registration statement on Form S-8 on November 26, 2018.

Unless otherwise determined by the board of directors, the Company’s common stock will be purchased for the accounts of employees participating in the 2018 ESPP at a price per share that is the lesser of 85% of the fair market value of the Company’s common stock on the first trading day of the offering period. During the three and nine months ended June 30, 2021 and 2020, activity under the 2018 ESPP was immaterial.

Net loss per share attributable to common stockholders

9 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Net loss per share attributable to common stockholders

12. Net loss per share attributable to common stockholders

The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common stockholders:


	Three months ended				Nine months ended
	June 30,				June 30,
(in thousands, except per share data)	2021		2020		2021		2020
Numerator:
Net loss attributable to common stockholders	$	(40,037)	$	(28,207)	$	(110,856)	$	(115,613)
Denominator:
Weighted average shares used in computing net loss per share, basic and diluted		48,963		41,838		47,881		37,463
Net loss per share attributable to common stockholders, basic and diluted	$	(0.82)	$	(0.67)	$	(2.32)	$	(3.09)

The potentially dilutive common shares that were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented are as follows:


	Three and nine months ended
	June 30,
(in thousands)	2021	2020
Shares subject to options to purchase common stock	3,339	3,994
Shares subject to performance-based stock options	—	—
Unvested restricted stock units	726	509
Unvested shares of common stock issued upon early exercise of stock options	6	22
Shares subject to employee stock purchase plan	21	50
Shares subject to warrants to purchase common stock	—	26
Total	4,092	4,601

Geographic, product and industry information

9 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Geographic, product and industry information

13. Geographic, product and industry information

The table below sets forth revenues by geographic region, based on ship-to destinations. Americas consists of Canada, Mexico, and South America; EMEA consists of Europe, the Middle East, and Africa; and APAC consists of Japan, China, South Korea, India, Singapore, Malaysia, and Australia.


	Three months ended				Nine months ended
	June 30,				June 30,
(in thousands)	2021		2020		2021		2020
United States	$	18,720	$	13,365	$	53,831	$	34,944
EMEA		12,658		6,394		31,694		18,566
APAC		3,096		1,179		7,527		3,364
Americas		544		269		1,330		794
Total	$	35,018	$	21,207	$	94,382	$	57,668

The table below sets forth revenues by products.


	Three months ended				Nine months ended
	June 30,				June 30,
(in thousands)	2021		2020		2021		2020
Synthetic genes	$	11,164	$	9,604	$	29,228	$	26,556
Oligo pools		2,017		1,004		5,367		3,347
DNA and Biopharma libraries		3,140		1,522		8,567		3,933
NGS tools		18,697		9,077		51,220		23,832
Total	$	35,018	$	21,207	$	94,382	$	57,668

The table below sets forth revenues by industry.


	Three months ended				Nine months ended
	June 30,				June 30,
(in thousands)	2021		2020		2021		2020
Industrial chemicals	$	9,422	$	7,698	$	25,214	$	21,471
Academic research		7,748		4,624		18,297		14,341
Healthcare		17,356		8,552		49,896		20,853
Agricultural		492		333		975		1,003
Total	$	35,018	$	21,207	$	94,382	$	57,668

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Business acquisition

9 Months Ended

Jun. 30, 2021

Business acquisition

Business acquisition

14. Business acquisition

On June 14, 2021, the Company acquired all of the outstanding stock of iGenomX International Genomics Corporation (iGenomX). iGenomX offers multiplex library preparation tools for next-generation sequencing (NGS) workflows. The Company’s acquisition is expected to enhance its capabilities to support multiplex sequencing preparations across multiple markets and to accelerate the Company’s conversion of customers from static microarray platforms to genotyping by sequencing workflows.

The acquisition date fair value of the consideration transferred for iGenomX was approximately $27.3 million consisting of a combination of cash totaling $0.5 million and 237,409 shares of the Company’s common stock valued at $26.8 million based on the Company’s closing stock price on June 14, 2021 and contingent consideration of up to 48,478 shares valued at $5.5 million based on the Company’s closing stock price on June 14, 2021 and indemnity holdback of up to 43,662 shares valued at $4.9 million based on the Company’s closing stock price on June 14, 2021. The contingent consideration is subject to the completion of certain transition milestones, which are expected to be entirely satisfied. The contingent consideration becomes payable between six and twelve months from the acquisition date and will be settled in shares of the Company’s common stock, subject to completion of the transition milestones. The Company maintains an indemnity holdback for the purposes of providing security against any adjustment to the amounts at closing. The indemnity holdback period extends for 18 months from the anniversary of the closing date.

This acquisition has been accounted for using the acquisition method of accounting in accordance with the business combination guidance in FASB ASC 805. Under the acquisition accounting method, the total estimated purchase price was allocated to the tangible and intangible assets acquired and liabilities assumed based on their relative fair values. The excess of the purchase price over the net tangible and intangible assets acquired and liabilities assumed has been recorded as goodwill. Management’s estimate of the fair values of the acquired intangible assets at June 14, 2021 is preliminary and subject to change and is based on established and accepted valuation techniques performed with the assistance of third-party valuation specialists. Additional information, which existed as of the acquisition date but is yet unknown to the Company, may become known to the Company during the remainder of the measurement period, which will not exceed twelve months from the acquisition date. Changes to amounts will be recorded as adjustments to the provisional amounts recognized as of the acquisition date and may result in a corresponding adjustment to goodwill in the period in which new information becomes available. The goodwill that arose from the acquisition consists of synergies expected from integrating iGenomX into the Company’s operations and customer base. The goodwill recognized is not expected to be deductible for income tax purposes.

The estimated fair value of the consideration is approximately $37.7 million, which continues to be subject to adjustment for working capital adjustments as allowed under terms of the agreement.

The following table summarizes the preliminary fair value amounts of the assets acquired and liabilities assumed as of the acquisition date, as well as, the purchase consideration:


(in thousands)	June 14, 2021
Assets acquired
Cash and cash equivalents	$	7
Accounts receivable		37
Inventories		14
Intangible assets		18,410
Goodwill		21,538
Liabilities assumed
Accounts payable		57
Accrued expenses		44
Deferred tax liability		2,252
Fair value of assets acquired and liabilities assumed	$	37,653

Consideration transferred
Cash	$	490
Company common stock		26,772
Contingent consideration		5,467
Indemnity holdback		4,924
Fair value of purchase consideration	$	37,653

The following table summarizes the preliminary estimate of the intangible assets as of the acquisition date:


	Estimated
	Weighted
	Average
	Useful Lives	Estimated Fair
(in thousands except for years)	in Years	Value
Developed technology	17	$	17,900
Customer relationships	1.5		510
Estimated fair value of acquired intangible assets		$	18,410

The Company estimated the fair value of the developed technology intangible asset using a discounted cash flow model. The Company estimated the fair value of the customer relationships intangible asset using a cost approach. These fair value measurements were based on significant inputs not observable in the market and thus represent a Level 3 measurement. Key assumptions include the level and timing of expected future cash flows, conditions and demands specific to each intangible asset over its remaining useful life, and discount rates the Company believes to be consistent with the inherent risks associated with each type of asset, which was approximately 8.5%. The fair value of these intangible assets is primarily affected by the projected revenues, gross margins, operating expenses, the technology obsolescence curve, and the anticipated timing of the projected income associated with each intangible asset coupled with the discount rates used to derive their estimated present values. The Company believes the level and timing of expected future cash flows appropriately reflects market participant assumptions.

The Company has included the financial results of iGenomX in its condensed consolidated financial statements from the date of acquisition, which were not material. The Company incurred transaction costs related to the acquisition of $0.7 million, which were recognized as an expense on the condensed consolidated statements of operations and comprehensive loss for the three and nine months ended June 30, 2021.

The estimated fair value of the contingent consideration and indemnity holdback increased from $10.4 million as of June 14, 2021 to $12.3 million as of June 30, 2021. For the three and nine months ended June 30, 2021, the Company recognized a charge of $1.9 million as change in fair value of acquisition consideration in its condensed consolidated statement of operations due to the change in fair value of such liabilities, as a result of the change in the Company’s stock price as of June 30, 2021.

The post-combination effect from net deferred tax liability assumed from the iGenomX acquisition also caused a release of the Company’s income tax valuation allowance. The release resulted in an income tax benefit of $2.3 million.

The following unaudited pro forma financial information presents the combined results of operations for the Company and iGenomX as if the iGenomX acquisition had occurred on October 1, 2020. The unaudited pro forma financial information has been prepared for comparative purposes only and does not purport to be indicative of the actual operating results that would have been recorded had the iGenomX acquisition actually taken place on October 1, 2020 and should not be taken as indicative of future consolidated operating results. Additionally, the unaudited pro forma financial results do not include any anticipated synergies or other expected benefits from the iGenomX acquisition.


	Three months ended				Nine months ended
	June 30,				June 30,
(in thousands)		2021		2020		2021		2020
Revenues	$	35,071	$	21,351	$	94,648	$	58,029
Net loss attributable to common stockholders		(40,354)		(28,552)		(111,767)		(116,605)

Subsequent events

9 Months Ended

Jun. 30, 2021

Subsequent Events [Abstract]

Subsequent events

15. Subsequent events

On July 28 2021, the Company entered into a 7-year operating lease for 21,195 square-feet of office space located in South San Francisco, California, to further expand the Company operations. Upon execution of the lease agreement, the Company provided the landlord an approximately $0.2 million security deposit. The Company will pay an initial annual base rent of approximately $1.7 million, which is subject to scheduled 3% annual increases, plus certain operating expenses. The Company has the right to sublease the facility, subject to landlord consent. The total future minimum lease payments under the agreement are $13.1 million.

Summary of significant accounting policies (Policies)

9 Months Ended

Jun. 30, 2021

Summary of significant accounting policies

Basis of presentation and use of estimates


	June 30,		September 30,
(in thousands)	2021		2020
Cash and cash equivalents	$	475,279	$	93,667
Restricted cash, non-current		1,530		579
Total cash, cash equivalents and restricted cash	$	476,809	$	94,246

Significant accounting policies

There have been no material changes in the accounting policies from those disclosed in the audited consolidated financial statements and the related notes included in the Annual Report on Form 10-K.

Recent accounting pronouncements

Recently issued accounting pronouncements not yet adopted

Summary of significant accounting policies (Tables)

9 Months Ended

Jun. 30, 2021

Summary of significant accounting policies

Summary of Cash, Cash Equivalents and Restricted Cash


	June 30,		September 30,
(in thousands)	2021		2020
Cash and cash equivalents	$	475,279	$	93,667
Restricted cash, non-current		1,530		579
Total cash, cash equivalents and restricted cash	$	476,809	$	94,246

Fair value measurement (Tables)

9 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Summary of Company's Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis


	June 30, 2021
(in thousands)	Level 1		Level 2		Level 3		Fair value
Assets
Cash	$	37,007	$	—	$	—	$	37,007
Money market funds		438,272		—		—		438,272
Commercial paper		—		7,998		—		7,998
U.S. government treasury bills		36,131		—		—		36,131
Total financial assets	$	511,410	$	7,998	$	—	$	519,408

Liabilities
Contingent consideration and indemnity holdback	$	—	$	12,278	$	—	$	12,278
Total financial liabilities	$	—	$	12,278	$	—	$	12,278


	September 30, 2020
(in thousands)	Level 1		Level 2		Level 3		Fair value
Assets
Cash	$	20,254	$	—	$	—	$	20,254
Money market funds		73,413		—		—		73,413
Commercial paper		—		94,840		—		94,840
U.S. government treasury bills		101,495		—		—		101,495
Total financial assets	$	195,162	$	94,840	$	—	$	290,002

- Definition

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

+ References + Details

Balance sheet components (Tables)

9 Months Ended

Jun. 30, 2021

Balance Sheet Related Disclosures [Abstract]

Schedule Of Accounts Notes Loans And Financing Receivable

The Company’s accounts receivable, net balance consists of the following:


	June 30,		September 30,
(in thousands)	2021		2020
Trade Receivables	$	23,558	$	25,790
Other Receivables		5,039		951
Allowance for Doubtful Accounts		(481)		(365)
Accounts Receivable, net	$	28,116	$	26,376

Summary of Inventory

Inventory amounts consist of the following:


	June 30,		September 30,
(in thousands)	2021		2020
Raw Materials	$	15,742	$	9,237
Work-in-process		2,537		2,021
Finished Goods		2,945		1,031
	$	21,224	$	12,289

Goodwill and intangible assets (Tables)

9 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets Balances

The intangible assets balances are presented below:


	June 30, 2021
	Useful	Gross
	life in	carrying		Accumulated		Net book
(in thousands, except for years)	years	amount		amortization		value
Developed Technology	1.5 - 17	$	19,120	$	(1,068)	$	18,052
Tradenames & Trademarks	2		20		(20)		—
Customer relationships	1.5		510		—		510
Total intangible assets		$	19,650	$	(1,088)	$	18,562


	September 30, 2020
	Useful	Gross
	life in	carrying		Accumulated		Net book
(in thousands, except for years)	years	amount		amortization		value
Developed Technology	6	$	1,220	$	(913)	$	307
Tradenames & Trademarks	2		20		(20)		—
Total intangible assets		$	1,240	$	(933)	$	307

Commitments and contingencies (Tables)

9 Months Ended

Jun. 30, 2021

Commitments and contingencies [Abstract]

Schedule of Supplemental Balance Sheet Information Relating to Companies Operating Lease

Supplemental balance sheet information related to the Company’s operating lease as of June 30, 2021, was the following:


	June 30,
(in thousands)	2021
Assets:
Operating lease right-of-use-asset	$	62,803
Current liabilities:
Current portion of operating lease liabilities	$	7,545
Noncurrent liabilities:
Operating lease liabilities, net of current portion	$	53,849

Schedule of Future Minimum Rental Payments for Operating Leases

Future minimum lease payments under all non-cancelable operating leases as of June 30, 2021 are as follows:


	Operating
(in thousands)	leases
Years ending September 30:
Remainder of 2021	$	1,390
2022		8,909
2023		10,552
2024		10,293
2025		10,445
Thereafter		92,536
Total minimum lease payments	$	134,125
Less: imputed interest		(55,103)
Less: tenant improvement allowance (receipt anticipated in 2022)		(17,628)
Total operating lease liabilities	$	61,394
Less: current portion		(7,545)
Operating lease liabilities, net of current portion	$	53,849

Stock-based compensation (Tables)

9 Months Ended

Jun. 30, 2021

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Activity Under The Equity Incentive Plans

Activity under the equity incentive plans during the nine months ended June 30, 2021 is summarized below:


			Weighted		Weighted
			average		average
			exercise		remaining	Aggregate
	Shares	Options	price per		contractual	intrinsic
(in thousands, except per share data)	available	outstanding	share		term (years)	value
Outstanding at September 30, 2020	1,034	3,913	$	24.35	8.1	$	204,365
Additional shares authorized	1,000	—		—	—		—
Stock options granted	(157)	157	$	46.59	—		—
Stock options exercised	—	(632)	$	18.62	—		—
Stock options forfeited	99	(99)	$	39.92	—		—
Restricted stock units granted	(370)	—		—	—		—
Forfeiture of restricted stock units	35	—		—	—		—
Shares withheld for payment of taxes	69	—		—	—		—
Outstanding at June 30, 2021	1,710	3,339	$	26.35	7.5	$	358,150
Vested or expected to vest at June 30, 2021		3,339	$	26.35	7.5	$	358,150
Vested and exercisable at June 30, 2021		1,586	$	17.08	6.8	$	184,229

Total Stock-based Compensation Expense

Total stock-based compensation expense recognized was as follows:


	Three months ended				Nine months ended
	June 30,				June 30,
(in thousands)	2021		2020		2021		2020
Cost of revenues	$	773	$	279	$	1,990	$	890
Research and development		2,753		833		7,180		2,357
Selling, general and administrative		5,650		2,960		18,581		8,718
Total stock-based compensation	$	9,176	$	4,072	$	27,751	$	11,965

Schedule of Nonvested Restricted Stock Units Activity

Activity with respect to the Company’s restricted stock units during the nine months ended June 30, 2021 was as follows:


		Weighted		Weighted
		average		average
	Number	grant date		remaining	Aggregate
	of	fair value		contractual	Intrinsic
(in thousands, except per share data)	Shares	per share		term (years)	Value
Outstanding at September 30, 2020	569	$	32.96	3.2	$	43,260
Restricted stock units granted	370	$	112.31	—		—
Restricted stock units vested	(178)	$	41.09	—		—
Restricted stock units forfeited	(35)	$	83.71	—		—
Outstanding at June 30, 2021	726	$	68.93	2.8	$	96,756
Expected to vest at June 30, 2021	726	$	68.93	2.8	$	96,756

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions


		Shares
(in thousands)		available
Outstanding at September 30, 2020		179
Additional shares authorized		250
Shares issued during the period		(49)
Outstanding at June 30, 2021		380

Net loss per share attributable to common stockholders (Tables)

9 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Computation of the Company's Basic and Diluted Net Loss Per Share Attributable to Common Stockholders

The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common stockholders:


	Three months ended				Nine months ended
	June 30,				June 30,
(in thousands, except per share data)	2021		2020		2021		2020
Numerator:
Net loss attributable to common stockholders	$	(40,037)	$	(28,207)	$	(110,856)	$	(115,613)
Denominator:
Weighted average shares used in computing net loss per share, basic and diluted		48,963		41,838		47,881		37,463
Net loss per share attributable to common stockholders, basic and diluted	$	(0.82)	$	(0.67)	$	(2.32)	$	(3.09)

Summary of Calculation of Diluted Net Loss Per Share


	Three and nine months ended
	June 30,
(in thousands)	2021	2020
Shares subject to options to purchase common stock	3,339	3,994
Shares subject to performance-based stock options	—	—
Unvested restricted stock units	726	509
Unvested shares of common stock issued upon early exercise of stock options	6	22
Shares subject to employee stock purchase plan	21	50
Shares subject to warrants to purchase common stock	—	26
Total	4,092	4,601

Geographic, product and industry information (Tables)

9 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Summary of Revenue by Geographic Region


	Three months ended				Nine months ended
	June 30,				June 30,
(in thousands)	2021		2020		2021		2020
United States	$	18,720	$	13,365	$	53,831	$	34,944
EMEA		12,658		6,394		31,694		18,566
APAC		3,096		1,179		7,527		3,364
Americas		544		269		1,330		794
Total	$	35,018	$	21,207	$	94,382	$	57,668

Summary of Revenue by Product

The table below sets forth revenues by products.


	Three months ended				Nine months ended
	June 30,				June 30,
(in thousands)	2021		2020		2021		2020
Synthetic genes	$	11,164	$	9,604	$	29,228	$	26,556
Oligo pools		2,017		1,004		5,367		3,347
DNA and Biopharma libraries		3,140		1,522		8,567		3,933
NGS tools		18,697		9,077		51,220		23,832
Total	$	35,018	$	21,207	$	94,382	$	57,668

Summary of Revenue by Industry

The table below sets forth revenues by industry.


	Three months ended				Nine months ended
	June 30,				June 30,
(in thousands)	2021		2020		2021		2020
Industrial chemicals	$	9,422	$	7,698	$	25,214	$	21,471
Academic research		7,748		4,624		18,297		14,341
Healthcare		17,356		8,552		49,896		20,853
Agricultural		492		333		975		1,003
Total	$	35,018	$	21,207	$	94,382	$	57,668

Business acquisition (Tables)

9 Months Ended

Jun. 30, 2021

Business acquisition

Schedule of preliminary fair value amounts of the assets acquired and liabilities assumed

The following table summarizes the preliminary fair value amounts of the assets acquired and liabilities assumed as of the acquisition date, as well as, the purchase consideration:


(in thousands)	June 14, 2021
Assets acquired
Cash and cash equivalents	$	7
Accounts receivable		37
Inventories		14
Intangible assets		18,410
Goodwill		21,538
Liabilities assumed
Accounts payable		57
Accrued expenses		44
Deferred tax liability		2,252
Fair value of assets acquired and liabilities assumed	$	37,653

Consideration transferred
Cash	$	490
Company common stock		26,772
Contingent consideration		5,467
Indemnity holdback		4,924
Fair value of purchase consideration	$	37,653

Schedule of preliminary estimate of the intangible assets

The following table summarizes the preliminary estimate of the intangible assets as of the acquisition date:


	Estimated
	Weighted
	Average
	Useful Lives	Estimated Fair
(in thousands except for years)	in Years	Value
Developed technology	17	$	17,900
Customer relationships	1.5		510
Estimated fair value of acquired intangible assets		$	18,410

Schedule of pro forma financial results


	Three months ended				Nine months ended
	June 30,				June 30,
(in thousands)		2021		2020		2021		2020
Revenues	$	35,071	$	21,351	$	94,648	$	58,029
Net loss attributable to common stockholders		(40,354)		(28,552)		(111,767)		(116,605)

The company - (Detail) - USD ($) $ in Thousands	1 Months Ended			101 Months Ended
The company - (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020	Feb. 29, 2020	Jun. 30, 2021	Sep. 30, 2020
Accumulated deficit				$ (569,311)	$ (458,455)
Subsequent Public Offering [Member]
Proceeds from the issuance of equity securities	$ 323,900	$ 107,400	$ 140,200	1,063,900
Proceeds from issuance of debt				$ 13,800

Summary of Significant Accounting Policies (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2019
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	$ 475,279	$ 93,667
Restricted cash, non-current	1,530	579
Total cash, cash equivalents and restricted cash	$ 476,809	$ 94,246	$ 208,516	$ 47,398

Fair Value Measurement - (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020
Assets
Total financial assets	$ 519,408	$ 290,002
Liabilities
Total financial liabilities	12,278
Commercial Paper [Member]
Assets
Total financial assets	7,998	94,840
US Government Treasury Bills [Member]
Assets
Total financial assets	36,131	101,495
Contingent consideration and indemnity holdback
Liabilities
Total financial liabilities	12,278
Cash [Member]
Assets
Total financial assets	37,007	20,254
Money Market Funds [Member]
Assets
Total financial assets	438,272	73,413
Fair Value, Inputs, Level 1 [Member]
Assets
Total financial assets	511,410	195,162
Fair Value, Inputs, Level 1 [Member] \| US Government Treasury Bills [Member]
Assets
Total financial assets	36,131	101,495
Fair Value, Inputs, Level 1 [Member] \| Cash [Member]
Assets
Total financial assets	37,007	20,254
Fair Value, Inputs, Level 1 [Member] \| Money Market Funds [Member]
Assets
Total financial assets	438,272	73,413
Fair Value, Inputs, Level 2 [Member]
Assets
Total financial assets	7,998	94,840
Liabilities
Total financial liabilities	12,278
Fair Value, Inputs, Level 2 [Member] \| Commercial Paper [Member]
Assets
Total financial assets	7,998	$ 94,840
Fair Value, Inputs, Level 2 [Member] \| Contingent consideration and indemnity holdback
Liabilities
Total financial liabilities	$ 12,278

Balance sheet components - Receivable (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Trade Receivables	$ 23,558	$ 25,790
Other Receivables	5,039	951
Allowance for Doubtful Accounts	(481)	(365)
Accounts Receivable, net	$ 28,116	$ 26,376

Balance sheet components - Inventory (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Raw Materials	$ 15,742	$ 9,237
Work-in-process	2,537	2,021
Finished Goods	2,945	1,031
Total inventories	$ 21,224	$ 12,289

Goodwill and Intangible Assets - Goodwill (Detail) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
iGenomX
Goodwill And Intangible Assets [Line Items]
Increase in goodwill	$ 21.5
Increase in intangible assets	18.4
Maximum
Goodwill And Intangible Assets [Line Items]
Total amortization expense related to intangible assets	$ 0.1	$ 0.1

Goodwill and Intangible Assets - Intangible Assets Balances (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 19,650	$ 1,240
Accumulated amortization	(1,088)	(933)
Net book value	$ 18,562	$ 307
Developed Technology
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Weighted Average Useful Lives in Years	1 year 6 months	6 years
Gross carrying amount	$ 19,120	$ 1,220
Accumulated amortization	(1,068)	(913)
Net book value	$ 18,052	$ 307
Developed Technology \| Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Weighted Average Useful Lives in Years	17 years
Tradenames & Trademarks
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Weighted Average Useful Lives in Years	2 years	2 years
Gross carrying amount	$ 20	$ 20
Accumulated amortization	$ (20)	$ (20)
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Weighted Average Useful Lives in Years	1 year 6 months
Gross carrying amount	$ 510
Net book value	$ 510

Commitments and contingencies - Operating Leases On Balance Sheet (Detail) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2021	Sep. 30, 2020
Commitments and contingencies [Abstract]
Lessor, Operating Lease, Existence of Option to Extend [true false]	true
Lessor, Operating Lease, Existence of Option to Terminate [true false]	true
Assets:
Operating lease right-of-use-asset	$ 62,803	$ 33,699
Current liabilities
Current portion of operating lease liabilities	7,545	6,409
Noncurrent liabilities:
Operating lease liabilities, net of current portion	$ 53,849	$ 24,837

Commitments and contingencies - Minimum Rental Payments (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020
Commitments and contingencies [Abstract]
Remainder of 2021	$ 1,390
2022	8,909
2023	10,552
2024	10,293
2025	10,445
Thereafter	92,536
Total minimum lease payments	134,125
Less: imputed interest	(55,103)
Less: tenant improvement allowance (receipt anticipated in 2022)	(17,628)
Operating Lease, Liability, Total	61,394
Less: current portion	(7,545)	$ (6,409)
Operating lease liabilities, net of current portion	$ 53,849	$ 24,837

Commitments and contingencies - Lease Contracts (Detail) $ in Thousands				1 Months Ended	3 Months Ended	9 Months Ended
	Jul. 28, 2021 USD ($) ft²	Apr. 14, 2021 USD ($) ft²	Apr. 13, 2021 USD ($) ft²	Dec. 31, 2020 USD ($) ft² item	Jun. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)
Operating lease expense					$ 2,700	$ 6,500
Operating lease payment					$ 1,900	$ 5,400
Lease weighted-average remaining lease term					17 years 1 month 9 days	17 years 1 month 9 days
Lease weighted average discount rate					6.42%	6.42%
Anticipated receipt of the tenant incentive					$ 17,628	$ 17,628
Change in right-of-use asset						29,100	$ 700
Change in operating lease liabilities.						30,100	$ 1,900
Non-cancelable operating lease payments in 2022					8,909	8,909
Future minimum payments					$ 134,125	$ 134,125
First Lease Amendment [Member]
Operating lease area \| ft²			101,000
Extension of lease term			10 years
Initial annual base rent			$ 1,200
Future minimum payments			$ 17,600
Percentage of increases base rental payments relating to original premises			3.00%
Percentage of obligated to payment of operating expenses			26.00%
Tenant improvement allowance connection with improvements to additional premises			$ 4,300
Wilsonville Oregon [Member]
Operating lease area \| ft²				110,995
Operating lease security deposit with the lessor				$ 1,000
Operating lease base rent annual percentage increase				3.00%
Tenant improvement allowance from lessor				$ 13,300
Number of extensions \| item				2
Extension of lease term				5 years
Initial annual base rent				$ 1,700
Future minimum payments				$ 27,900
Operating lease term				12 years
Brisbane California [Member]
Operating lease area \| ft²		15,538
Operating lease base rent annual percentage increase	3.00%	3.00%
Initial annual base rent		$ 300
Future minimum payments		$ 2,200
Operating lease term		5 years
Security deposit		$ 200
Brisbane California [Member] \| Subsequent Event [Member]
Operating lease area \| ft²	21,195
Initial annual base rent	$ 1,700
Future minimum payments	$ 13,100
Operating lease term	7 years
Security deposit	$ 200

Related Party Transactions - (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Related party transactions [Abstract]
Raw materials purchased from related party investor	$ 1.2	$ 1.1	$ 3.5	$ 2.7

Income taxes (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
Income taxes (Detail) - USD ($) $ in Millions	Jun. 30, 2021	Jun. 30, 2021
Income taxes [Abstract]
Income tax benefit, due to deferred tax liabilty as part of business acquisition	$ (2.4)	$ (2.3)

Warrants - (Detail) - $ / shares			1 Months Ended
Warrants - (Detail) - $ / shares	Mar. 28, 2016	Dec. 22, 2015	Nov. 30, 2020	Oct. 31, 2020	Sep. 30, 2020
Class of Warrant or Right [Line Items]
Class of warrants or rights outstanding					26,385
Number of warrants exercised			7,531	18,854
Exercise price per share			$ 21.24	$ 14.85
Common stock issued for cashless exercise			6,041	16,051
Warrants One [Member]
Class of Warrant or Right [Line Items]
Class of warrants or rights number of warrants issued during the period	7,531	18,854

Common stock - (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended			3 Months Ended	101 Months Ended
	Dec. 31, 2020	Jun. 30, 2020	Feb. 29, 2020	Dec. 31, 2019	Jun. 30, 2021
At The Market Offering [Member]
Sale Of Stock Authorized Amount				$ 50.0
Number of shares issued				2,239,680
Price per share				$ 22.32
Proceeds of underwritten public offering common stock				$ 48.0
Over-Allotment Option [Member]
Issuance of common stock, shares	409,090	454,545	696,428
Subsequent Public Offering [Member]
Issuance of common stock, shares	3,136,362	3,484,848	4,642,857
Shares issued, price per share	$ 110.00	$ 33.00	$ 28.00
Proceeds of underwritten public offering common stock	$ 323.9	$ 107.4	$ 140.2		$ 1,063.9

Stock-based compensation - Paragraphs (Detail) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended		9 Months Ended
	Sep. 01, 2020	Sep. 26, 2018	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of common stock shares reserved for issuance			380,000		380,000		179,000
Unrecognized compensation cost, stock options			$ 30,500		$ 30,500
Unrecognized stock-based compensation expense, period for recognition					1 year 9 months 18 days
Increase in stock-based compensation expense			$ 9,176	$ 4,072	$ 27,751	$ 11,965
Weighted average grant date fair value of stock options granted					$ 38.74
2018 ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum annual increase in share reserved for issuance		249,470
Annual automatic Increase in share reserved for issuance (as a percent)		1.00%
Aggregate number of common stock shares reserved for issuance		275,225
Percentage of payroll deduction to purchase common stock		15.00%
2018 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum annual increase in share reserved for issuance		999,900
Annual automatic Increase in share reserved for issuance (as a percent)		4.00%
2018 Equity Incentive Plan [Member] \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of common stock shares reserved for issuance		5,856,505
2015 ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP eligible employee common stock purchase price ratio		85.00%
Unvested restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based payment arrangement equity instruments other than options non vested outstanding grant date fair value			$ 68.93		$ 68.93		$ 32.96
Unvested restricted stock units \| 2018 ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, stock options			$ 45,700		$ 45,700
Unrecognized stock-based compensation expense, period for recognition					2 years 9 months 18 days
Phantom Share Units (PSUs) [Member] \| Revised Annual Equity Award Program [Member] \| Executive Officers and Senior Level Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based payment arrangement instruments other than options expected to vest outstanding			264,900		264,900
Share based compensation by share based payment arrangement equity instruments other than options non vested outstanding grant date fair value			$ 45.01		$ 45.01
Share based compensation by share based payment arrangement equity instruments other than options unrecognized compensation			$ 7,200		$ 7,200
Unrecognized stock-based compensation expense, period for recognition					1 year 3 months
Phantom Share Units (PSUs) [Member] \| Revised Annual Equity Award Program [Member] \| Executive Officers and Senior Level Employees [Member] \| PSU Grants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in stock-based compensation expense			$ 600		$ 600
Phantom Share Units (PSUs) [Member] \| Revised Annual Equity Award Program [Member] \| Maximum \| Executive Officers and Senior Level Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of PSUs that may vest based on performance	150.00%
Phantom Share Units (PSUs) [Member] \| Revised Annual Equity Award Program [Member] \| Minimum \| Executive Officers and Senior Level Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of PSUs that may vest based on performance	0.00%

Stock-based compensation - Reserved For Issuance (Detail) shares in Thousands	9 Months Ended
	Jun. 30, 2021 shares
Disclosure Of Employee Stock Purchase Plan [LineItems]
Outstanding at September 30, 2020	179
Additional shares authorized	250
Shares issued during the period	(49)
Outstanding at June 30, 2021	380

Stock-based compensation - Activity Under The Equity Incentive Plans (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020 USD ($) $ / shares shares	Jun. 30, 2021 USD ($) $ / shares shares
Shares available
Shares available, Additional shares authorized		250
2018 Equity Incentive Plan [Member]
Shares available
Shares available, Outstanding Beginning Balance		1,034
Shares available, Additional shares authorized		1,000
Shares available, Stock options granted		(157)
Shares available, Stock options forfeited		99
Shares available, Restricted stock units granted		(370)
Shares available, Forfeiture of restricted common stock		35
Shares available, Shares withheld for payment of taxes		69
Shares available, Outstanding Ending Balance	1,034	1,710
Options outstanding
Number of options, Outstanding beginning balance		3,913
Options outstanding, Stock options granted		157
Options outstanding, Stock options exercised		(632)
Options outstanding, Stock options forfeited		(99)
Number of options, Outstanding ending balance	3,913	3,339
Options outstanding, Vested or expected to vest		3,339
Options outstanding, Vested and exercisable		1,586
Weighted average exercise price per share
Weighted average exercise price per share, Outstanding Beginning Balance \| $ / shares		$ 24.35
Weighted average exercise price per share, Stock options granted \| $ / shares		46.59
Weighted average exercise price per share, Stock options exercised \| $ / shares		18.62
Weighted average exercise price per share, Stock options forfeited \| $ / shares		39.92
Weighted average exercise price per share, Outstanding Ending Balance \| $ / shares	$ 24.35	26.35
Weighted average exercise price per share, Vested or expected to vest \| $ / shares		26.35
Weighted average exercise price per share, Vested and exercisable \| $ / shares		$ 17.08
Weighted average remaining contractual term (years)
Weighted average remaining contractual term, Outstanding	8 years 1 month 6 days	7 years 6 months
Weighted average remaining contractual term, Vested or expected to vest		7 years 6 months
Weighted average remaining contractual term,Vested and exercisable		6 years 9 months 18 days
Aggregate intrinsic value
Aggregate intrinsic value, Outstanding \| $	$ 204,365	$ 358,150
Aggregate intrinsic value, Vested or expected to vest \| $		358,150
Aggregate intrinsic value, Vested and exercisable \| $		$ 184,229

Stock-based compensation - Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 9,176	$ 4,072	$ 27,751	$ 11,965
Cost of Revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	773	279	1,990	890
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	2,753	833	7,180	2,357
Selling, General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 5,650	$ 2,960	$ 18,581	$ 8,718

Stock-based compensation -Restricted Stock Units Activity (Detail) - Unvested restricted stock units $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020 USD ($) $ / shares shares	Jun. 30, 2021 USD ($) $ / shares shares
Number of Shares
Number of shares, Outstanding Beginning Balance \| shares		569
Number of shares, granted \| shares		370
Number of shares, vested \| shares		(178)
Number of shares, forfeited \| shares		(35)
Number of shares, Outstanding Ending Balance \| shares	569	726
Expected to vest, Outstanding \| shares		726
Weighted average grant date fair value per share
Weighted average grant date fair value price per share, Outstanding Beginning Balance \| $ / shares		$ 32.96
Weighted average grant date fair value price per share, granted \| $ / shares		112.31
Weighted average grant date fair value price per share, vested \| $ / shares		41.09
Weighted average grant date fair value price per share, forfeited \| $ / shares		83.71
Weighted average grant date fair value price per share, Outstanding Ending Balance \| $ / shares	$ 32.96	68.93
Weighted average grant date fair value price per share, Expected to vest \| $ / shares		$ 68.93
Weighted average remaining contractual term (years)
Weighted average remaining contractual term, Outstanding	3 years 2 months 12 days	2 years 9 months 18 days
Weighted average remaining contractual term, Expected to vest		2 years 9 months 18 days
Aggregate Intrinsic Value
Aggregate intrinsic value, Outstanding \| $	$ 43,260	$ 96,756
Aggregate intrinsic value, Expected to vest \| $		$ 96,756

Net Loss Per Share Attributable to Common Stockholders - Computation (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator:
Net loss attributable to common stockholders	$ (40,037)	$ (28,207)	$ (110,856)	$ (115,613)
Denominator:
Weighted average shares used in computing net loss per share, basic and diluted (in shares)	48,963	41,838	47,881	37,463
Net loss per share attributable to common stockholders-basic and diluted (in dollars per share)	$ (0.82)	$ (0.67)	$ (2.32)	$ (3.09)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Net Loss Per Share Attributable to Common Stockholders -Anti-diluteve (Detail) - shares shares in Thousands	9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	4,092	4,601
Shares subject to options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	3,339	3,994
Unvested restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	726	509
Unvested shares of common stock issued upon early exercise of stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	6	22
Shares subject to employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	21	50
Shares subject to warrants to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount		26

Geographic, Product and Industry Information - Geographic Region (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Revenue	$ 35,018	$ 21,207	$ 94,382	$ 57,668
United States [Member]
Segment Reporting Information [Line Items]
Revenue	18,720	13,365	53,831	34,944
EMEA [Member]
Segment Reporting Information [Line Items]
Revenue	12,658	6,394	31,694	18,566
APAC [Member]
Segment Reporting Information [Line Items]
Revenue	3,096	1,179	7,527	3,364
Americas [Member]
Segment Reporting Information [Line Items]
Revenue	$ 544	$ 269	$ 1,330	$ 794

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 41
-Subparagraph (a)
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-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Geographic, Product and Industry Information - By Product (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Revenue	$ 35,018	$ 21,207	$ 94,382	$ 57,668
Synthetic Genes [Member]
Segment Reporting Information [Line Items]
Revenue	11,164	9,604	29,228	26,556
Oligo Pools [Member]
Segment Reporting Information [Line Items]
Revenue	2,017	1,004	5,367	3,347
DNA and Biopharma libraries [Member]
Segment Reporting Information [Line Items]
Revenue	3,140	1,522	8,567	3,933
NGS Tools [Member]
Segment Reporting Information [Line Items]
Revenue	$ 18,697	$ 9,077	$ 51,220	$ 23,832

- Definition

+ References

+ Details

Geographic, Product and Industry Information - By Industry (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Revenue	$ 35,018	$ 21,207	$ 94,382	$ 57,668
Industrial Chemicals [Member]
Segment Reporting Information [Line Items]
Revenue	9,422	7,698	25,214	21,471
Academic Research [Member]
Segment Reporting Information [Line Items]
Revenue	7,748	4,624	18,297	14,341
Health Care [Member]
Segment Reporting Information [Line Items]
Revenue	17,356	8,552	49,896	20,853
Agricultural [Member]
Segment Reporting Information [Line Items]
Revenue	$ 492	$ 333	$ 975	$ 1,003

- Definition

+ References

+ Details

Business acquisition (Details) - iGenomX International Genomics Corporation (iGenomX) shares in Thousands, $ in Thousands	Jun. 14, 2021 USD ($) shares
Business Acquisition [Line Items]
Fair value of consideration transferred	$ 27,300
Cash consideration	$ 490
Shares of the company's common stock \| shares	237,409
Company common stock	$ 26,772
Contingent consideration	5,500
Indemnity holdback consideration	4,924
Fair value of purchase consideration	37,653
Contingent consideration	$ 5,467
Contingent consideration (in Shares) \| shares	48,478
Indemnity holdback consideration (in Shares) \| shares	43,662
Minimum
Business Acquisition [Line Items]
Contingent consideration payable period	6 months
Maximum
Business Acquisition [Line Items]
Contingent consideration payable period	12 months

Business acquisition - Assets acquired and liabilities assumed (Details) - USD ($) $ in Thousands	Jun. 14, 2021	Jun. 30, 2021	Sep. 30, 2020
Assets acquired
Goodwill		$ 22,676	$ 1,138
iGenomX International Genomics Corporation (iGenomX)
Assets acquired
Cash and cash equivalents	$ 7
Accounts receivable	37
Inventories	14
Intangible assets	18,410
Goodwill	21,538
Liabilities assumed
Accounts payable	57
Accrued expenses	44
Deferred tax liability	2,252
Fair value of assets acquired and liabilities assumed	37,653
Consideration transferred
Cash	490
Company common stock	26,772
Contingent consideration	5,467
Indemnity holdback	4,924
Fair value of purchase consideration	$ 37,653

Business acquisition - Preliminary estimate of the intangible assets (Details) $ in Thousands		3 Months Ended		9 Months Ended
	Jun. 14, 2021 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)
Business Acquisition [Line Items]
Change in fair value of acquisition consideration		$ 1,887	$ 0	$ 1,887	$ 0
Income tax benefit		$ (2,377)	$ 21	$ (2,271)	$ 120
iGenomX International Genomics Corporation (iGenomX)
Business Acquisition [Line Items]
Intangible assets	$ 18,410
Discount rate		8.5		8.5
Transaction costs				$ 700
Contingent consideration	5,467
Change in fair value of acquisition consideration		$ 1,900		1,900
Income tax benefit				2,300
Contingent consideration and indemnity holdback	$ 10,400	$ 12,300		$ 12,300
Developed Technology \| iGenomX International Genomics Corporation (iGenomX)
Business Acquisition [Line Items]
Estimated Weighted Average Useful Lives in Years	17 years
Intangible assets	$ 17,900
Customer relationships \| iGenomX International Genomics Corporation (iGenomX)
Business Acquisition [Line Items]
Estimated Weighted Average Useful Lives in Years	1 year 6 months
Intangible assets	$ 510

Business acquisition - Pro forma financial results (Details) - iGenomX International Genomics Corporation (iGenomX) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Business Acquisition [Line Items]
Revenue	$ 35,071	$ 21,351	$ 94,648	$ 58,029
Net loss attributable to common stockholders	$ (40,354)	$ (28,552)	$ (111,767)	$ (116,605)

Subsequent events - (Detail) $ in Thousands	Jul. 28, 2021 USD ($) ft²	Apr. 14, 2021 USD ($) ft²	Jun. 30, 2021 USD ($)
Subsequent Event [Line Items]
Total future minimum payments			$ 134,125
Brisbane California [Member]
Subsequent Event [Line Items]
Operating lease area \| ft²		15,538
Initial annual base rent		$ 300
Total future minimum payments		$ 2,200
Lessee, Operating Lease, Term of Contract		5 years
Security deposit		$ 200
Operating lease base rent annual percentage increase	3.00%	3.00%
Brisbane California [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Operating lease area \| ft²	21,195
Initial annual base rent	$ 1,700
Total future minimum payments	$ 13,100
Lessee, Operating Lease, Term of Contract	7 years
Security deposit	$ 200