0001104659-21-063169 | 10-Q | XBRL Viewer

Summary of significant accounting policies (Tables)

6 Months Ended

Mar. 31, 2021

Summary of Cash, Cash Equivalents and Restricted Cash

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:


	March 31,		September 30,
(in thousands)	2021		2020
Cash and cash equivalents	$	399,329	$	93,667
Restricted cash, non-current		1,530		579
Total cash, cash equivalents and restricted cash	$	400,859	$	94,246

Stock-based compensation - Activity Under The Equity Incentive Plans (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2020 USD ($) $ / shares shares	Mar. 31, 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		(108)
Shares available, Stock options forfeited		57
Shares available, Restricted stock units granted		(315)
Shares available, Forfeiture of restricted common stock		27
Shares available, Shares withheld for payment of taxes		46
Early exercised options repurchased		2
Shares available, Outstanding Ending Balance	1,034	1,743
Options outstanding
Number of options, Outstanding beginning balance		3,913
Options outstanding, Stock options granted		108
Options outstanding, Stock options exercised		(498)
Options outstanding, Stock options forfeited		(57)
Number of options, Outstanding ending balance	3,913	3,466
Options outstanding, Vested or expected to vest		3,466
Options outstanding, Vested and exercisable		1,477
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		50.13
Weighted average exercise price per share, Stock options exercised \| $ / shares		18.66
Weighted average exercise price per share, Stock options forfeited \| $ / shares		29.46
Weighted average exercise price per share, Outstanding Ending Balance \| $ / shares	$ 24.35	25.21
Weighted average exercise price per share, Vested or expected to vest \| $ / shares		25.21
Weighted average exercise price per share, Vested and exercisable \| $ / shares		$ 16.07
Weighted average remaining contractual term (years)
Weighted average remaining contractual term, Outstanding	8 years 1 month 6 days	7 years 8 months 12 days
Weighted average remaining contractual term, Vested or expected to vest		7 years 8 months 12 days
Weighted average remaining contractual term,Vested and exercisable		6 years 10 months 24 days
Aggregate intrinsic value
Aggregate intrinsic value, Outstanding \| $	$ 204,365	$ 342,000
Aggregate intrinsic value, Vested or expected to vest \| $		342,000
Aggregate intrinsic value, Vested and exercisable \| $		$ 159,173

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

Subsequent events

6 Months Ended

Mar. 31, 2021

Subsequent Events [Abstract]

Subsequent events

14. Subsequent events

On April 30, 2021, the Company was issued a Convertible Promissory Note (Note) by a privately held company (Borrower) in the sum of $5.0 million. On May 3, 2021, the Company advanced $1.0 million to the Borrower under the Note. The Note is unsecured, bears interest at 4% per annum, and matures on May 31, 2021. Outstanding principal and any unpaid accrued interest will be converted into preferred shares of the Borrower if before the repayment of the Note, the Borrower has an equity financing round.

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 future minimum lease payments under the agreement are $2.2 million.

Geographic, Product and Industry Information - By Industry (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Revenue	$ 31,204	$ 19,297	$ 59,364	$ 36,461
Industrial Chemicals [Member]
Segment Reporting Information [Line Items]
Revenue	8,661	7,541	15,793	13,678
Academic Research [Member]
Segment Reporting Information [Line Items]
Revenue	5,648	5,542	10,549	10,493
Health Care [Member]
Segment Reporting Information [Line Items]
Revenue	16,564	5,752	32,540	11,587
Agricultural [Member]
Segment Reporting Information [Line Items]
Revenue	$ 331	$ 462	$ 482	$ 703

- 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
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

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

+ Details

Goodwill and Intangible Assets - Goodwill (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Mar. 31, 2021	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in carrying value of goodwill	$ 0	$ 0

Common stock

6 Months Ended

Mar. 31, 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.

Balance sheet components - Receivable (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Sep. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Trade Receivables	$ 24,953	$ 25,790
Other Receivables	3,068	951
Allowance for Doubtful Accounts	(731)	(365)
Accounts Receivable, net	$ 27,290	$ 26,376

Related party transactions

6 Months Ended

Mar. 31, 2021

Related party transactions

7. Related party transactions

During the three months ended March 31, 2021 and 2020, the Company purchased raw materials from a related party investor in the amount of $1.2 million and $0.9 million, respectively. During the six months ended March 31, 2021 and 2020, the Company purchased raw materials from a related party investor in the amount of $2.3 million and $1.6 million, respectively. Payable balances and cash receipts and receivable balances with the related parties were immaterial as of March 31, 2021 and September 30, 2020.

Net loss per share attributable to common stockholders (Tables)

6 Months Ended

Mar. 31, 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				Six months ended
	March 31,				March 31,
(in thousands, except per share data)	2021		2020		2021		2020
Numerator:
Net loss attributable to common stockholders	$	(37,919)	$	(31,768)	$	(70,819)	$	(87,406)
Denominator:
Weighted average shares used in computing net loss per share, basic and diluted		48,709		37,164		47,340		35,058
Net loss per share attributable to common stockholders, basic and diluted	$	(0.78)	$	(0.85)	$	(1.50)	$	(2.49)

Summary of Calculation of Diluted Net Loss Per Share


	Three months ended				Six months ended
	March 31,				March 31,
(in thousands, except per share data)	2021		2020		2021		2020
Numerator:
Net loss attributable to common stockholders	$	(37,919)	$	(31,768)	$	(70,819)	$	(87,406)
Denominator:
Weighted average shares used in computing net loss per share, basic and diluted		48,709		37,164		47,340		35,058
Net loss per share attributable to common stockholders, basic and diluted	$	(0.78)	$	(0.85)	$	(1.50)	$	(2.49)

Stock-based compensation - Reserved For Issuance (Detail) shares in Thousands	6 Months Ended
	Mar. 31, 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 March 31, 2021	380

Balance sheet components

6 Months Ended

Mar. 31, 2021

Balance Sheet Related Disclosures [Abstract]

Balance sheet components

4. Balance sheet components

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


	March 31,		September 30,
(in thousands)	2021		2020
Trade Receivables	$	24,953	$	25,790
Other Receivables		3,068		951
Allowance for Doubtful Accounts		(731)		(365)
Accounts Receivable, net	$	27,290	$	26,376

Inventory amounts consist of the following:


	March 31,		September 30,
(in thousands)	2021		2020
Raw Materials	$	11,387	$	9,237
Work-in-process		2,594		2,021
Finished Goods		1,857		1,031
	$	15,838	$	12,289

The company - (Detail) - USD ($) $ in Thousands	1 Months Ended			98 Months Ended
The company - (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020	Feb. 29, 2020	Mar. 31, 2021	Sep. 30, 2020
Accumulated deficit				$ (529,274)	$ (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

Fair Value Measurement - (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Sep. 30, 2020
Assets
Assets, Totals	$ 555,658	$ 290,002
Commercial Paper [Member]
Assets
Assets, Totals	74,958	94,840
US Government Treasury Bills [Member]
Assets
Assets, Totals	81,371	101,495
Cash [Member]
Assets
Assets, Totals	33,515	20,254
Money Market Funds [Member]
Assets
Assets, Totals	365,814	73,413
Fair Value, Inputs, Level 1 [Member]
Assets
Assets, Totals	480,700	195,162
Fair Value, Inputs, Level 1 [Member] \| US Government Treasury Bills [Member]
Assets
Assets, Totals	81,371	101,495
Fair Value, Inputs, Level 1 [Member] \| Cash [Member]
Assets
Assets, Totals	33,515	20,254
Fair Value, Inputs, Level 1 [Member] \| Money Market Funds [Member]
Assets
Assets, Totals	365,814	73,413
Fair Value, Inputs, Level 2 [Member]
Assets
Assets, Totals	74,958	94,840
Fair Value, Inputs, Level 2 [Member] \| Commercial Paper [Member]
Assets
Assets, Totals	$ 74,958	$ 94,840

Commitments and contingencies (Tables)

6 Months Ended

Mar. 31, 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 March 31, 2021, was the following:


	March 31,
(in thousands)	2021
Assets:
Operating lease right-of-use-asset	$	30,997
Current liabilities:
Current portion of operating lease liabilities	$	6,514
Noncurrent liabilities:
Operating lease liabilities, net of current portion	$	22,244

Schedule of Future Minimum Rental Payments for Operating Leases

Future minimum lease payments under all non-cancelable operating leases as of March 31, 2021 are as follows:


	Operating
(in thousands)	leases
Years ending September 30:
Remainder of 2021	$	3,118
2022		7,169
2023		6,766
2024		6,393
2025		6,433
Thereafter		4,907
Total minimum lease payments	$	34,786
Less: imputed interest		(6,028)
Total operating lease liabilities	$	28,758
Less: current portion		(6,514)
Operating lease liabilities, net of current portion	$	22,244

Fair value measurement

6 Months Ended

Mar. 31, 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 March 31, 2021 and September 30, 2020 and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value.


	March 31, 2021
(in thousands)	Level 1		Level 2		Level 3		Fair value
Assets
Cash	$	33,515	$	—	$	—	$	33,515
Money market funds		365,814		—		—		365,814
Commercial paper		—		74,958		—		74,958
U.S. government treasury bills		81,371		—		—		81,371
Totals	$	480,700	$	74,958	$	—	$	555,658


	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
Totals	$	195,162	$	94,840	$	—	$	290,002

As of March 31, 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

Summary of significant accounting policies (Policies)

6 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

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 six months ended March 31, 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.


	March 31,		September 30,
(in thousands)	2021		2020
Cash and cash equivalents	$	399,329	$	93,667
Restricted cash, non-current		1,530		579
Total cash, cash equivalents and restricted cash	$	400,859	$	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 except as disclosed below.

The Company’s current Biopharma libraries revenue primarily consists of research and development agreements with third parties that provide for up-front and periodic payments. The Company also generates revenue from research and development agreements that do not include upfront or milestone-based payments and generally recognize revenue on these types of agreements based on the timing of development activities. All these agreements may include more than one performance obligation. At the inception of the contract, the Company assesses whether each obligation represents a separate performance obligation or whether such obligations should be combined as a single performance obligation. The transaction price for each development agreement is determined based on the amount of consideration the Company expects to be entitled to for satisfying all performance obligations within the agreement. The Company usually assesses the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue. In arrangements where the Company satisfies performance obligation(s) over time, the Company recognizes development revenue typically using an input method based on the costs incurred relative to the total expected cost which determines the extent of our progress toward completion. As part of the accounting for these arrangements, the Company must develop estimates and assumptions that require judgment to determine the transaction price and progress towards completion. The Company reviews their estimates of the transaction price and progress toward completion based on the best information available to recognize the cumulative progress toward completion as of the end of each reporting period and make revisions to such estimates as necessary. Also, these research and development agreements may include license payments. The Company recognizes revenue from functional license agreements when the license is transferred to the customer and the customer is able to use and benefit from the license.

Recent accounting pronouncements

In February 2016, the Financial Accounting Standards Board (FASB) issued new lease accounting guidance in Accounting Standard Update (ASU) 2016-02, Leases, and in July 2018 issued ASU 2018-10, Codification Improvements to Topic 842, Leases, and ASU 2018-11, Leases (Topic 842): Targeted Improvements (the foregoing ASUs collectively referred to as “Topic 842”). Under the new guidance, lessees are required to recognize for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use or control the use of, a specified asset for the lease term.

On October 1, 2019, the Company adopted Topic 842 using the modified retrospective approach. The adoption had a material effect on the condensed consolidated balance sheets but did not have a material effect on the condensed consolidated statements of operations and comprehensive loss. Prior period amounts were not adjusted and continue to be reported in accordance with the previous accounting under ASC 840, Leases. The Company elected the package of practical expedients permitted under the transition guidance which, among other things, allows carrying forward the historical classification of existing leases as of October 1, 2019.

As a result of electing the transition guidance as described above, on October 1, 2019, the Company recorded operating lease right-of-use assets of $35.8 million, including the derecognition of deferred rent of $0.1 million and prepaid rent of $1.6 million, with the corresponding lease liabilities totaling $34.3 million. There was no material effect to the Company’s statements of operations and comprehensive loss upon adoption.

Under Topic 842, the Company determines if an arrangement is a lease at inception primarily based on the determination of the party responsible for directing the use of an underlying asset within a contract. Operating lease right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at the lease commencement date based on the present value of committed lease payments over the lease term. In determining the present value of lease payments, the Company uses its incremental borrowing rate based on the information available at the lease commencement date which includes significant assumptions made including the Company’s estimated credit rating, annual percentage yields from corporate debt financings of companies of similar size and credit rating over a loan term approximating the remaining term of each lease, and government bond yields for terms approximating the remaining term of each lease in countries where the leased assets are located. Certain leases include payments of operating expenses that are dependent and may be revised based on the landlord’s estimate, and these variable payments are therefore excluded from the lease payments used to determine the operating lease right-of-use asset and lease liability. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise any such options. Lease expense is recognized on a straight-line basis over the expected lease term.

The Company elected to not apply the recognition requirements of Topic 842 to short-term leases with terms of 12 months or less which do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise. For short-term leases, lease payments are recognized as operating expenses on a straight-line basis over the lease term. The Company elected to account for lease and non-lease components as a single lease component.

Additional information and disclosures required by Topic 842 are contained in Note 6.

In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Subtopic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement, which modifies the disclosure requirements on fair value measurements. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The Company adopted this standard effective October 1, 2020. The adoption of ASU 2018-13 did not have an impact on the Company’s consolidated financial statements for either period presented.

In November 2018, the FASB issued ASU 2018-18, Collaborative Arrangements (Topic 808): Clarifying the Interaction Between Topic 808 and Topic 606, which, among other things, provides guidance on how to assess whether certain collaborative arrangement transactions should be accounted for under Topic 606. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. The Company adopted this standard effective October 1, 2020. The adoption of ASU 2017-09 did not have an impact on the Company’s consolidated financial statements for either period presented.

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.

Goodwill and Intangible Assets - Intangible Assets Balances (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Sep. 30, 2020
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 1,240		$ 1,240	$ 1,240
Accumulated amortization	(1,037)		(1,037)	(933)
Net book value	203		$ 203	$ 307
Maximum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Total amortization expense related to intangible assets	100	$ 100
Developed Technology [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life in years			6 years	6 years
Gross carrying amount	1,220		$ 1,220	$ 1,220
Accumulated amortization	(1,017)		(1,017)	(913)
Net book value	203		$ 203	$ 307
Tradenames & Trademarks [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life in years			2 years	2 years
Gross carrying amount	20		$ 20	$ 20
Accumulated amortization	$ (20)		$ (20)	$ (20)

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Sep. 30, 2020
Current assets:
Cash and cash equivalents	$ 399,329	$ 93,667
Short-term investments	156,329	196,335
Accounts receivable, net	27,290	26,376
Inventories	15,838	12,289
Prepaid expenses and other current assets	9,213	6,203
Total current assets	607,999	334,870
Property and equipment, net	31,975	25,466
Operating lease right-of-use assets	30,997	33,699
Goodwill	1,138	1,138
Intangible assets, net	203	307
Restricted cash, non-current	1,530	579
Other non-current assets	3,447	2,823
Total assets	677,289	398,882
Current liabilities:
Accounts payable	8,528	4,830
Accrued expenses	3,272	3,901
Accrued compensation	14,897	14,945
Current portion of operating lease liability	6,514	6,409
Current portion of long-term debt	3,168	3,333
Other current liabilities	4,063	2,611
Total current liabilities	40,442	36,029
Operating lease liability, net of current portion	22,244	24,837
Long-term debt, net of current portion		1,403
Other non-current liabilities	422	351
Total liabilities	63,108	62,620
Commitments and contingencies (Note 6)
Stockholders' equity
Common stock, $0.00001 par value-100,000 and 100,000 shares authorized at March 31, 2021 and September 30, 2020, respectively; [48,616] and 45,083 shares issued and outstanding at March 31, 2021 and September 30, 2020, respectively
Additional paid-in capital	1,143,265	794,630
Accumulated other comprehensive income	190	87
Accumulated deficit	(529,274)	(458,455)
Total stockholders' equity	614,181	336,262
Total liabilities and stockholders' equity	$ 677,289	$ 398,882

Commitments and contingencies - Operating Leases On Balance Sheet (Detail) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 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	$ 30,997	$ 33,699
Current liabilities:
Current portion of operating lease liabilities	6,514	6,409
Noncurrent liabilities:
Operating lease liabilities, net of current portion	$ 22,244	$ 24,837

Summary of Significant Accounting Policies - Cash, Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	$ 399,329	$ 93,667
Restricted cash, non-current	1,530	579
Total cash, cash equivalents and restricted cash	$ 400,859	$ 94,246	$ 185,057	$ 47,398

Geographic, Product and Industry Information - Geographic Region (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Revenue	$ 31,204	$ 19,297	$ 59,364	$ 36,461
United States [Member]
Segment Reporting Information [Line Items]
Revenue	18,077	11,752	35,111	21,579
EMEA [Member]
Segment Reporting Information [Line Items]
Revenue	9,978	6,232	19,036	12,172
APAC [Member]
Segment Reporting Information [Line Items]
Revenue	2,665	944	4,432	2,186
Americas [Member]
Segment Reporting Information [Line Items]
Revenue	$ 484	$ 369	$ 785	$ 524

- Definition

+ References

+ Details

Subsequent events - (Detail) $ in Thousands	Apr. 14, 2021 USD ($) ft²	Apr. 13, 2021 USD ($) ft²	May 03, 2021 USD ($)	Apr. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)
Subsequent Event [Line Items]
Future minimum payments					$ 34,786
Subsequent Event [Member] \| Convertible Notes Payable [Member]
Subsequent Event [Line Items]
Amount of borrowings			$ 1,000	$ 5,000
Interest rate				4.00%
Subsequent Event [Member] \| First Lease Amendment [Member]
Subsequent Event [Line Items]
Operating lease area \| ft²		101,000
Extend 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
Brisbane California [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Operating lease area \| ft²	15,538
Initial annual base rent	$ 300
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%

Geographic, product and industry information

6 Months Ended

Mar. 31, 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				Six months ended
	March 31,				March 31,
(in thousands)	2021		2020		2021		2020
United States	$	18,077	$	11,752	$	35,111	$	21,579
EMEA		9,978		6,232		19,036		12,172
APAC		2,665		944		4,432		2,186
Americas		484		369		785		524
Total	$	31,204	$	19,297	$	59,364	$	36,461

The table below sets forth revenues by products.


	Three months ended				Six months ended
	March 31,				March 31,
(in thousands)	2021		2020		2021		2020
Synthetic genes	$	9,189	$	9,116	$	18,064	$	16,952
Oligo pools		1,841		1,101		3,351		2,342
DNA and Biopharma libraries		3,223		1,354		5,427		2,412
NGS tools		16,951		7,726		32,522		14,755
Total	$	31,204	$	19,297	$	59,364	$	36,461

The table below sets forth revenues by industry.


	Three months ended				Six months ended
	March 31,				March 31,
(in thousands)	2021		2020		2021		2020
Industrial chemicals	$	8,661	$	7,541	$	15,793	$	13,678
Academic research		5,648		5,542		10,549		10,493
Healthcare		16,564		5,752		32,540		11,587
Agricultural		331		462		482		703
Total	$	31,204	$	19,297	$	59,364	$	36,461

- 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.

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+ Details

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	AOCI Attributable to Parent [Member]	Additional Paid-in Capital [Member]	Common Stock [Member]	Accumulated deficit [Member]	Total
Beginning Balance at Sep. 30, 2019	$ 181	$ 470,425		$ (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		188,174			188,174
Issuance of common stock in public offering, net of underwriting discounts and commissions and offering expenses, shares			7,579
Vesting of restricted stock units, shares			119
Exercise of stock options		3,102			3,102
Exercise of stock options , shares			389
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			(1)
Repurchases of common stock for income tax withholding		(1,198)			(1,198)
Repurchases of common stock for income tax withholding , shares			(47)
Stock-based compensation		7,894			7,894
Other comprehensive income	32				32
Net loss				(87,406)	(87,406)
Ending Balance at Mar. 31, 2020	213	669,919		(405,930)	264,202
Ending Balance , shares at Mar. 31, 2020			40,970
Beginning Balance at Dec. 31, 2019	190	477,053		(374,162)	103,081
Beginning Balance , shares at Dec. 31, 2019			33,261
Issuance of common stock in public offering, net of underwriting discounts and commissions and offering expenses		186,150			186,150
Issuance of common stock in public offering, net of underwriting discounts and commissions and offering expenses, shares			7,482
Vesting of restricted stock units, shares			35
Exercise of stock options		1,387			1,387
Exercise of stock options , shares			147
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 common stock for income tax withholding		(390)			(390)
Repurchases of common stock for income tax withholding , shares			(13)
Stock-based compensation		4,197			4,197
Other comprehensive income	23				23
Net loss				(31,768)	(31,768)
Ending Balance at Mar. 31, 2020	213	669,919		(405,930)	264,202
Ending Balance , shares at Mar. 31, 2020			40,970
Beginning Balance at Sep. 30, 2020	87	794,630		(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		323,887			323,887
Issuance of common stock in public offering, net of underwriting discounts and commissions and offering expenses, shares			3,136
Vesting of restricted stock units, shares			121
Exercise of stock options		9,137			9,137
Exercise of stock options , shares			497
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		(5,751)			$ (5,751)
Repurchases of common stock for income tax withholding , shares			(46)
Stock-based compensation		18,575			18,575
Other comprehensive income	103				103
Net loss				(70,819)	(70,819)
Ending Balance at Mar. 31, 2021	190	1,143,265		(529,274)	614,181
Ending Balance , shares at Mar. 31, 2021			48,860
Beginning Balance at Dec. 31, 2020	142	1,129,165		(491,355)	637,952
Beginning Balance , shares at Dec. 31, 2020			48,616
Vesting of restricted stock units, shares			67
Exercise of stock options		3,066			3,066
Exercise of stock options , shares			152
Issuance of shares under the employee stock purchase plan		2,787			2,787
Issuance of shares under the employee stock purchase plan , shares			49
Public offering expense adjustment		36			36
Repurchases of early exercised stock options, shares			(2)
Repurchases of common stock for income tax withholding		(3,341)			(3,341)
Repurchases of common stock for income tax withholding , shares			(22)
Stock-based compensation		11,552			11,552
Other comprehensive income	48				48
Net loss				(37,919)	(37,919)
Ending Balance at Mar. 31, 2021	$ 190	$ 1,143,265		$ (529,274)	$ 614,181
Ending Balance , shares at Mar. 31, 2021			48,860

Related Party Transactions - (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Related party transactions [Abstract]
Raw materials purchased from related party investor	$ 1.2	$ 0.9	$ 2.3	$ 1.6

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Mar. 31, 2021	Sep. 30, 2020
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, share authorized	100,000	100,000
Common stock, share issued	48,860	45,083
Common stock, share outstanding	48,860	45,083

Cover Page - shares	6 Months Ended
Cover Page - shares	Mar. 31, 2021	May 05, 2021
Cover [Abstract]
Entity Registrant Name	Twist Bioscience Corporation
Entity Central Index Key	0001581280
Document Type	10-Q
Entity File Number	001-38720
Entity Tax Identification Number	46-2058888
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--09-30
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 Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		48,894,038
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	681 Gateway Blvd
Entity Address, City or Town	South San Francisco
Entity Address, Country	CA
Entity Address, Postal Zip Code	94080
City Area Code	800
Local Phone Number	719-0671
Amendment Flag	false

Net Loss Per Share Attributable to Common Stockholders - Computation (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Numerator:
Net loss attributable to common stockholders	$ (37,919)	$ (31,768)	$ (70,819)	$ (87,406)
Denominator:
Weighted average shares used in computing net loss per share, basic and diluted	48,709	37,164	47,340	35,058
Net loss per share attributable to common stockholders, basic and diluted	$ (0.78)	$ (0.85)	$ (1.50)	$ (2.49)

- Definition

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

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+ Details

Commitments and contingencies

6 Months Ended

Mar. 31, 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 March 31, 2021, was the following:


	March 31,
(in thousands)	2021
Assets:
Operating lease right-of-use-asset	$	30,997
Current liabilities:
Current portion of operating lease liabilities	$	6,514
Noncurrent liabilities:
Operating lease liabilities, net of current portion	$	22,244

Future minimum lease payments under all non-cancelable operating leases as of March 31, 2021 are as follows:


	Operating
(in thousands)	leases
Years ending September 30:
Remainder of 2021	$	3,118
2022		7,169
2023		6,766
2024		6,393
2025		6,433
Thereafter		4,907
Total minimum lease payments	$	34,786
Less: imputed interest		(6,028)
Total operating lease liabilities	$	28,758
Less: current portion		(6,514)
Operating lease liabilities, net of current portion	$	22,244

During the three and six months ended March 31, 2021, operating lease expense was $1.9 million and $3.8 million, respectively. Cash payments for amounts included in the measurement of operating lease liabilities for the three and six months ended March 31, 2021 were $1.8 million and $3.6 million, respectively. As of March 31, 2021, the weighted-average remaining lease term was 5.1 years and the weighted-average discount rate was 7%.

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 had not commenced as of March 31, 2021. The lease commencement is contingent upon assuming control over the facility which is not expected to occur until the landlord completes their portion of the buildout which was not completed as of March 31, 2021. The future minimum lease payments under the agreement are $27.9 million. Refer to note 14 for the first amendment of the lease agreement.

Geographic, product and industry information (Tables)

6 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Summary of Revenue by Geographic Region


	Three months ended				Six months ended
	March 31,				March 31,
(in thousands)	2021		2020		2021		2020
United States	$	18,077	$	11,752	$	35,111	$	21,579
EMEA		9,978		6,232		19,036		12,172
APAC		2,665		944		4,432		2,186
Americas		484		369		785		524
Total	$	31,204	$	19,297	$	59,364	$	36,461

Summary of Revenue by Product

The table below sets forth revenues by products.


	Three months ended				Six months ended
	March 31,				March 31,
(in thousands)	2021		2020		2021		2020
Synthetic genes	$	9,189	$	9,116	$	18,064	$	16,952
Oligo pools		1,841		1,101		3,351		2,342
DNA and Biopharma libraries		3,223		1,354		5,427		2,412
NGS tools		16,951		7,726		32,522		14,755
Total	$	31,204	$	19,297	$	59,364	$	36,461

Summary of Revenue by Industry

The table below sets forth revenues by industry.


	Three months ended				Six months ended
	March 31,				March 31,
(in thousands)	2021		2020		2021		2020
Industrial chemicals	$	8,661	$	7,541	$	15,793	$	13,678
Academic research		5,648		5,542		10,549		10,493
Healthcare		16,564		5,752		32,540		11,587
Agricultural		331		462		482		703
Total	$	31,204	$	19,297	$	59,364	$	36,461

Warrants

6 Months Ended

Mar. 31, 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 March 31, 2021.

Net Loss Per Share Attributable to Common Stockholders -Anti-diluteve (Detail) - shares shares in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	4,271	4,706
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	3,466	4,062
Shares subject to performance-based stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	37
Unvested restricted shares of common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount		3
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	736	531
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	9	27
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	23	56
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		27

Goodwill and intangible assets (Tables)

6 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets Balances

The intangible assets balances are presented below:


	March 31, 2021
	Useful	Gross
	life in	carrying		Accumulated		Net book
(in thousands, except for years)	years	amount		amortization		value
Developed Technology	6	$	1,220	$	(1,017)	$	203
Tradenames & Trademarks	2		20		(20)		—
Total indefinite-lived intangible assets		$	1,240	$	(1,037)	$	203


	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 indefinite-lived intangible assets		$	1,240	$	(933)	$	307

Net loss per share attributable to common stockholders

6 Months Ended

Mar. 31, 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				Six months ended
	March 31,				March 31,
(in thousands, except per share data)	2021		2020		2021		2020
Numerator:
Net loss attributable to common stockholders	$	(37,919)	$	(31,768)	$	(70,819)	$	(87,406)
Denominator:
Weighted average shares used in computing net loss per share, basic and diluted		48,709		37,164		47,340		35,058
Net loss per share attributable to common stockholders, basic and diluted	$	(0.78)	$	(0.85)	$	(1.50)	$	(2.49)

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 six months ended
	March 31,
(in thousands)	2021	2020
Shares subject to options to purchase common stock	3,466	4,062
Shares subject to performance-based stock options	37	—
Unvested restricted shares of common stock	—	3
Unvested restricted stock units	736	531
Unvested shares of common stock issued upon early exercise of stock options	9	27
Shares subject to employee stock purchase plan	23	56
Shares subject to warrants to purchase common stock	—	27
Total	4,271	4,706

Balance sheet components (Tables)

6 Months Ended

Mar. 31, 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:


	March 31,		September 30,
(in thousands)	2021		2020
Trade Receivables	$	24,953	$	25,790
Other Receivables		3,068		951
Allowance for Doubtful Accounts		(731)		(365)
Accounts Receivable, net	$	27,290	$	26,376

Summary of Inventory

Inventory amounts consist of the following:


	March 31,		September 30,
(in thousands)	2021		2020
Raw Materials	$	11,387	$	9,237
Work-in-process		2,594		2,021
Finished Goods		1,857		1,031
	$	15,838	$	12,289

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Statements of Operations and Comprehensive Loss
Revenues	$ 31,204	$ 19,297	$ 59,364	$ 36,461
Operating expenses:
Cost of revenues	19,028	13,564	37,190	27,356
Research and development	15,791	10,629	29,791	20,926
Selling, general and administrative	34,389	27,190	63,181	53,595
Litigation settlement				22,500
Total operating expenses	69,208	51,383	130,162	124,377
Loss from operations	(38,004)	(32,086)	(70,798)	(87,916)
Interest income	157	576	291	1,140
Interest expense	(95)	(215)	(213)	(463)
Other income (expense), net	84	18	8	(69)
Loss before income taxes	(37,858)	(31,707)	(70,712)	(87,308)
Provision for income taxes	(61)	(61)	(107)	(98)
Net loss attributable to common stockholders	(37,919)	(31,768)	(70,819)	(87,406)
Other comprehensive loss:
Change in unrealized income on investments	10	12	1	27
Foreign currency translation adjustment	38	11	102	5
Comprehensive loss	$ (37,871)	$ (31,745)	$ (70,716)	$ (87,374)
Net loss per share attributable to common stockholders-basic and diluted	$ (0.78)	$ (0.85)	$ (1.50)	$ (2.49)
Weighted average shares used in computing net loss per share attributable to common stockholders-basic and diluted	48,709	37,164	47,340	35,058

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities
Net loss	$ (70,819)	$ (87,406)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	4,575	3,064
Loss on disposal of property and equipment	2
Non-cash lease expense	214	(227)
Stock-based compensation	18,575	7,894
Discount (premium) accretion on investment securities	314	(232)
Realized gain on investments	(4)
Non-cash interest expense	44	87
Bad debt expense	417
Amortization of debt discount	53	105
Changes in assets and liabilities:
Accounts receivable, net	(1,331)	(2,727)
Inventories	(3,544)	(3,433)
Prepaid expenses and other current assets	(2,731)	(1,953)
Other non-current assets	(87)	(196)
Accounts payable	3,798	(3,075)
Accrued expenses	(45)	(3,037)
Accrued Compensation	(38)	(1,848)
Other liabilities	1,126	(601)
Net cash used in operating activities	(49,481)	(93,585)
Cash flows from investing activities
Purchases of property and equipment	(12,030)	(4,795)
Purchases of investments	(58,795)	(6,537)
Proceeds from maturity of investments	98,494	52,500
Net cash (used in) / provided by investing activities	27,669	41,168
Cash flows from financing activities
Proceeds from exercise of stock options	9,116	3,061
Proceeds from public offering, net of underwriting discounts and commissions and offering expenses	323,887	188,376
Proceeds from issuance of common stock under employee stock purchase plan	2,787	1,522
Repayments of long-term debt	(1,667)	(1,667)
Repurchases of common stock for income tax withholding	(5,751)	(1,198)
Net cash provided by financing activities	328,372	190,094
Effect of exchange rates on cash, cash equivalents and restricted cash	53	(18)
Net increase (decrease) in cash, cash equivalents, and restricted cash	306,613	137,659
Cash, cash equivalents, and restricted cash at beginning of period	94,246	47,398
Cash, cash equivalents, and restricted cash at end of period	400,859	185,057
Supplemental disclosure of cash flow information
Interest paid	109	271
Income taxes paid, net of refunds	1	120
Non-cash investing and financing activities
Property and equipment additions included in accounts payable and accrued expenses	197	774
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$ 63	2,833
Deferred offering costs included in accounts payable and accrued expenses		$ 203

Stock-based compensation - Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 11,552	$ 4,197	$ 18,575	$ 7,894
Cost of Revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	731	250	1,218	610
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	2,427	797	4,428	1,524
Selling, General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 8,394	$ 3,150	$ 12,929	$ 5,760

Commitments and contingencies - Lease Contracts (Detail) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
	Dec. 31, 2020 USD ($) ft² item	Mar. 31, 2021 USD ($)	Mar. 31, 2021 USD ($)
Operating lease expense		$ 1,900	$ 3,800
Operating lease payment		$ 1,800	$ 3,600
Lease weighted-average remaining lease term		5 years 1 month 6 days	5 years 1 month 6 days
Lease weighted average discount rate		7.00%	7.00%
Future minimum payments		$ 34,786	$ 34,786
Wilsonville Oregon [Member]
Operating lease term	12 years
Operating lease area \| ft²	110,995
Operating lease security deposit with the lessor	$ 1,000
Initial annual base rent	$ 1,700
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
Future minimum payments	$ 27,900

Geographic, Product and Industry Information - By Product (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Revenue	$ 31,204	$ 19,297	$ 59,364	$ 36,461
Synthetic Genes [Member]
Segment Reporting Information [Line Items]
Revenue	9,189	9,116	18,064	16,952
Oligo Pools [Member]
Segment Reporting Information [Line Items]
Revenue	1,841	1,101	3,351	2,342
DNA and Biopharma libraries [Member]
Segment Reporting Information [Line Items]
Revenue	3,223	1,354	5,427	2,412
NGS Tools [Member]
Segment Reporting Information [Line Items]
Revenue	$ 16,951	$ 7,726	$ 32,522	$ 14,755

- Definition

+ References

+ Details

Goodwill and intangible assets

6 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets

5. Goodwill and intangible assets

There were no changes to the carrying value of goodwill as of March 31, 2021 and September 30, 2020. Total amortization expense related to intangible assets was less than $0.1 million for the three months ended March 31, 2021 and 2020.

The intangible assets balances are presented below:


	March 31, 2021
	Useful	Gross
	life in	carrying		Accumulated		Net book
(in thousands, except for years)	years	amount		amortization		value
Developed Technology	6	$	1,220	$	(1,017)	$	203
Tradenames & Trademarks	2		20		(20)		—
Total indefinite-lived intangible assets		$	1,240	$	(1,037)	$	203


	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 indefinite-lived intangible assets		$	1,240	$	(933)	$	307

The company

6 Months Ended

Mar. 31, 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 March 31, 2021, the Company had an accumulated deficit of $529.3 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.

In March 2020, the World Health Organization declared the COVID-19 outbreak to be a pandemic. During the three and six months ended March 31, 2021, financial results of the Company were not significantly affected by the COVID-19 outbreak. 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.

Income taxes

6 Months Ended

Mar. 31, 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 each of the three and six months ended March 31, 2021 and 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

Summary of significant accounting policies

6 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Summary of significant accounting policies

2. Summary of significant accounting policies

Basis of presentation and use of estimates


	March 31,		September 30,
(in thousands)	2021		2020
Cash and cash equivalents	$	399,329	$	93,667
Restricted cash, non-current		1,530		579
Total cash, cash equivalents and restricted cash	$	400,859	$	94,246

Significant accounting policies

The Company has contract assets of $0.8 million and contract liabilities of $0.6 million as of March 31, 2021. There were no significant contract assets and liability as of September 30, 2020. For all periods presented, the Company did not recognize revenue from amounts that were included in the contract liability balance at the beginning of each period. In addition, for all periods presented, there was no revenue recognized in a reporting period from performance obligations satisfied in previous periods.

Recent accounting pronouncements

Additional information and disclosures required by Topic 842 are contained in Note 6.

Recently issued accounting pronouncements not yet adopted

Commitments and contingencies - Minimum Rental Payments (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Sep. 30, 2020
Commitments and contingencies [Abstract]
Lessee, Operating Lease, Liability, to be Paid, Remainder of Fiscal Year	$ 3,118
Lessee, Operating Lease, Liability, to be Paid, Year One	7,169
Lessee, Operating Lease, Liability, to be Paid, Year Two	6,766
Lessee, Operating Lease, Liability, to be Paid, Year Three	6,393
Lessee, Operating Lease, Liability, to be Paid, Year Four	6,433
Thereafter	4,907
Total minimum lease payments	34,786
Less: imputed interest	(6,028)
Operating Lease, Liability, Total	28,758
Less: current portion	(6,514)	$ (6,409)
Operating lease liabilities, net of current portion	$ 22,244	$ 24,837

Stock-based compensation -Restricted Stock Units Activity (Detail) - Restricted stock units $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2020 USD ($) $ / shares shares	Mar. 31, 2021 USD ($) $ / shares shares
Number of Shares
Number of shares, Outstanding Beginning Balance \| shares		569
Number of shares, granted \| shares		315
Number of shares, vested \| shares		(121)
Number of shares, forfeited \| shares		(27)
Number of shares, Outstanding Ending Balance \| shares	569	736
Expected to vest, Outstanding \| shares		736
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		106.80
Weighted average grant date fair value price per share, vested \| $ / shares		36.47
Weighted average grant date fair value price per share, forfeited \| $ / shares		79.88
Weighted average grant date fair value price per share, Outstanding Ending Balance \| $ / shares	$ 32.96	62.27
Weighted average grant date fair value price per share, Expected to vest \| $ / shares		$ 62.27
Weighted average remaining contractual term (years)
Weighted average remaining contractual term, Outstanding	3 years 2 months 12 days	3 years 1 month 6 days
Weighted average remaining contractual term, Expected to vest		3 years 1 month 6 days
Aggregate Intrinsic Value
Aggregate intrinsic value, Outstanding \| $	$ 43,260	$ 91,209
Aggregate intrinsic value, Expected to vest \| $		$ 91,209

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Common Stock [Member]
Net of underwriting discounts, commissions and offering expenses	$ 11,030	$ 21,113	$ 11,306

Stock-based compensation (Tables)

6 Months Ended

Mar. 31, 2021

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

Activity Under The Equity Incentive Plans

Activity under the equity incentive plans during the six months ended March 31, 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	(108)	108		50.13	—		—
Stock options exercised	—	(498)		18.66	—		—
Stock options forfeited	57	(57)		29.46	—		—
Restricted stock units granted	(315)	—		—	—		—
Forfeiture of restricted stock units	27	—		—	—		—
Shares withheld for payment of taxes	46	—		—	—		—
Early exercised options repurchased	2	—		—	—		—
Outstanding at March 31, 2021	1,743	3,466	$	25.21	7.7	$	342,000
Vested or expected to vest at March 31, 2021		3,466	$	25.21	7.7	$	342,000
Vested and exercisable at March 31, 2021		1,477	$	16.07	6.9	$	159,173

Total Stock-based Compensation Expense

Total stock-based compensation expense recognized was as follows:


	Three months ended				Six months ended
	March 31,				March 31,
(in thousands)	2021		2020		2021		2020
Cost of revenues	$	731	$	250	$	1,218	$	610
Research and development		2,427		797		4,428		1,524
Selling, general and administrative		8,394		3,150		12,929		5,760
Total stock-based compensation	$	11,552	$	4,197	$	18,575	$	7,894

Schedule of Nonvested Restricted Stock Units Activity

Activity with respect to the Company’s restricted stock units during the six months ended March 31, 2021 was as follows:


		Weighted		Weighted
		average		average
	Number	grant date		remaining	Aggregate
	of	fair value		contractual	Intrinsic
(in thousands, except share and 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	315		106.80	—		—
Restricted stock units vested	(121)		36.47	—		—
Restricted stock units forfeited	(27)		79.88	—		—
Outstanding at March 31, 2021	736	$	62.27	3.1	$	91,209
Expected to vest at March 31, 2021	736	$	62.27	3.1	$	91,209

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 March 31, 2021		380

Fair value measurement (Tables)

6 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

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


	March 31, 2021
(in thousands)	Level 1		Level 2		Level 3		Fair value
Assets
Cash	$	33,515	$	—	$	—	$	33,515
Money market funds		365,814		—		—		365,814
Commercial paper		—		74,958		—		74,958
U.S. government treasury bills		81,371		—		—		81,371
Totals	$	480,700	$	74,958	$	—	$	555,658


	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
Totals	$	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

Common stock - (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended			2 Months Ended	98 Months Ended
	Dec. 31, 2020	Jun. 30, 2020	Feb. 29, 2020	Jan. 31, 2020	Mar. 31, 2021	Dec. 31, 2019
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 Millions			3 Months Ended	6 Months Ended
	Sep. 01, 2020	Sep. 26, 2018	Mar. 31, 2021	Mar. 31, 2021	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			$ 33.9	$ 33.9
Unrecognized stock-based compensation expense, period for recognition				2 years 1 month 6 days
Weighted average grant date fair value of stock options granted			$ 30.33
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 [Member]
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%
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			$ 62.27	$ 62.27	$ 32.96
Restricted stock units \| 2018 ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, stock options			$ 43.6	$ 43.6
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			245,913	245,913
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			$ 8.0	$ 8.0
Unrecognized stock-based compensation expense, period for recognition				1 year 6 months
Phantom Share Units (PSUs) [Member] \| Revised Annual Equity Award Program [Member] \| Maximum [Member] \| 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 [Member] \| 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

6 Months Ended

Mar. 31, 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 March 31, 2021, the Company determined that 245,913 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. The weighted-average grant date fair value was determined to be $45.01 per share. As of March 31, 2021, the unrecognized compensation costs related to these awards were $8.0 million. The Company expects to recognize those costs over a weighted average period of 1.5 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 six months ended March 31, 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	(108)	108		50.13	—		—
Stock options exercised	—	(498)		18.66	—		—
Stock options forfeited	57	(57)		29.46	—		—
Restricted stock units granted	(315)	—		—	—		—
Forfeiture of restricted stock units	27	—		—	—		—
Shares withheld for payment of taxes	46	—		—	—		—
Early exercised options repurchased	2	—		—	—		—
Outstanding at March 31, 2021	1,743	3,466	$	25.21	7.7	$	342,000
Vested or expected to vest at March 31, 2021		3,466	$	25.21	7.7	$	342,000
Vested and exercisable at March 31, 2021		1,477	$	16.07	6.9	$	159,173

Total stock-based compensation expense recognized was as follows:


	Three months ended				Six months ended
	March 31,				March 31,
(in thousands)	2021		2020		2021		2020
Cost of revenues	$	731	$	250	$	1,218	$	610
Research and development		2,427		797		4,428		1,524
Selling, general and administrative		8,394		3,150		12,929		5,760
Total stock-based compensation	$	11,552	$	4,197	$	18,575	$	7,894

As of March 31, 2021, there was $33.9 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 2.1 years. The weighted-average grant date fair value of stock options granted during the three months ended March 31, 2021 was $30.33 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 six months ended March 31, 2021 was as follows:


		Weighted		Weighted
		average		average
	Number	grant date		remaining	Aggregate
	of	fair value		contractual	Intrinsic
(in thousands, except share and 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	315		106.80	—		—
Restricted stock units vested	(121)		36.47	—		—
Restricted stock units forfeited	(27)		79.88	—		—
Outstanding at March 31, 2021	736	$	62.27	3.1	$	91,209
Expected to vest at March 31, 2021	736	$	62.27	3.1	$	91,209

As of March 31, 2021, there was $43.6 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 March 31, 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 March 31, 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 six months ended March 31, 2021 and 2020, activity under the 2018 ESPP was immaterial.

Summary of Significant Accounting Policies - Accounting pronouncements (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Sep. 30, 2020	Oct. 01, 2019
Operating lease right of use assets	$ 30,997		$ 30,997		$ 33,699
Operating lease liabilities	28,758		28,758
Contract assets	800		800
Contract liabilities	600		600
Revenue from amounts that were included in the contract liability balance at the beginning of period	0	$ 0	0	$ 0
Revenue recognized in a reporting period from performance obligations satisfied in previous periods	$ 0	$ 0	$ 0	$ 0
Accounting Standards Update 2018-11 [Member]
Operating lease right of use assets						$ 35,800
Operating lease deferred rent						100
Operating lease prepaid rent						1,600
Operating lease liabilities						$ 34,300

Balance sheet components - Inventory (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Sep. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Raw Materials	$ 11,387	$ 9,237
Work-in-process	2,594	2,021
Finished Goods	1,857	1,031
Total inventories	$ 15,838	$ 12,289