0001411690-26-000044 | 10-Q | XBRL Viewer

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Stockholders’ Equity and Stock-Based Compensation - Restricted Stock and Performance Stock Activity (Details) - RSUs	6 Months Ended
	Jun. 30, 2026 $ / shares shares
Stock Units
Beginning balance (in shares) \| shares	3,490
Granted (in shares) \| shares	0
Released (in shares) \| shares	(1,490)
Forfeited (in shares) \| shares	(260)
Ending balance (in shares) \| shares	1,740
Weighted- Average Grant Date Fair Value per Share
Beginning balance (in dollars per share) \| $ / shares	$ 290.34
Granted (in dollars per share) \| $ / shares	0
Released (in dollars per share) \| $ / shares	356.64
Forfeited (in dollars per share) \| $ / shares	63.31
Ending balance (in dollars per share) \| $ / shares	$ 265.28

Organization and Basis of Presentation	6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	1. Organization and Basis of Presentation Description of Business Bionano Genomics, Inc. (collectively, with its consolidated subsidiaries, the “Company”) is a provider of genome analysis solutions that can enable researchers and clinicians to reveal answers to challenging questions in biology and medicine. The Company offers optical genome mapping (“OGM”) solutions, diagnostic services and software for applications across basic, translational and clinical research, and for other applications including bioprocessing. The Company offers a platform-agnostic software solution, which integrates next-generation sequencing, microarray and OGM data designed to provide analysis, visualization, interpretation and reporting of copy number variants, single-nucleotide variants and absence of heterozygosity across the genome in one consolidated view. The Company also offers nucleic acid extraction and purification solutions using proprietary isotachophoresis (“ITP”) technology. Through its wholly-owned subsidiary, Lineagen Inc. (doing business as Bionano Laboratories), the Company also provides OGM-based diagnostic testing services. Reverse Stock Split On January 24, 2025, the Company filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to effect a reverse stock split of all issued and outstanding shares of the Company’s common stock at a ratio of 1-for-60. The reverse stock split did not change the par value or the authorized number of shares of the Company’s common stock. The Company’s condensed consolidated financial statements and notes to the condensed consolidated financial statements present the retroactive effect of the reverse stock split on the Company’s common stock and per share amounts for all periods presented. Basis of Presentation The accompanying financial information has been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim reporting purposes. The condensed consolidated financial statements are unaudited. The unaudited condensed consolidated financial statements reflect, in the opinion of the Company’s management, all adjustments, consisting of only normal recurring adjustments, necessary for a fair presentation of financial position, results of operations, changes in equity, and comprehensive loss and cash flows for each period presented in accordance with United States generally accepted accounting principles (“U.S. GAAP”). All intercompany transactions and balances have been eliminated. The operating results presented in these unaudited interim condensed financial statements are not necessarily indicative of the results that may be expected for any future periods. These interim unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Liquidity and Going Concern The Company has experienced recurring net losses from operations, negative cash flows from operating activities, and a significant accumulated deficit since its inception and expects to continue to incur net losses into the foreseeable future. As of June 30, 2026, the Company had approximately $3.7 million in cash and cash equivalents, $6.2 million in short-term investments, $0.5 million in restricted cash and investments, and working capital of $14.8 million. The $0.5 million of restricted cash is included in an Irrevocable Standby Letter of Credit (“Letter of Credit”) set to expire on September 30, 2026. As of June 30, 2026, the Company had fully redeemed the outstanding principal balance under the Debentures (see Note 5 (Debt) to our unaudited condensed consolidated financial statements). During the six months ended June 30, 2026, the Company used $10.4 million of cash in operations and had an accumulated deficit of $735.3 million as of June 30, 2026. Management expects operating losses and negative cash flows to continue for at least the next year as the Company continues to incur costs related to product development and commercialization efforts. Management has prepared cash flows forecasts which indicate that based on the Company’s expected operating losses and negative cash flows, there is substantial doubt about the Company’s ability to continue as a going concern within twelve months after the date that the unaudited condensed consolidated financial statements for the six months ended June 30, 2026, are issued. Management’s ability to continue as a going concern is dependent upon its ability to raise additional funding. Management’s plans to raise additional capital to fulfill its operating and capital requirements for at least twelve months include public or private equity or debt financings. However, the Company may not be able to secure such financing in a timely manner or on favorable terms, if at all, and if the Company is unable to raise sufficient additional capital in the very near term, it may need to further curtail or cease operations and seek protection by filing a voluntary petition for relief under the United States Bankruptcy Code. Furthermore, if the Company issues equity securities to raise additional funds, its existing stockholders may experience dilution, and the new equity securities may have rights, preferences and privileges senior to those of the Company’s existing stockholders. The unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities in the normal course of business, and do not include any adjustments to reflect the outcome of this uncertainty. Significant Accounting Policies During the three and six months ended June 30, 2026, there were no material changes to the Company’s significant accounting policies as described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Restructuring Expenses The Company’s restructuring expense primarily consisted of actions taken in May and October 2023 (the “2023 Workforce Reductions”) and March and September 2024 (the “2024 Workforce Reductions”) in order to reduce costs and improve operations and manufacturing efficiency. Severance-related costs were accounted for as a one-time termination benefit communicated by period end without an additional service component, so the charge represented the total amount expected to be incurred. As a result of reducing facility costs and discretionary spending unrelated to headcount and combined with the cost savings from the 2023 Workforce Reductions and 2024 Workforce Reductions, such plans were intended to decrease expenses and maintain a streamlined organization to support the Company’s business. No restructuring charges were incurred during the three and six months ended June 30, 2026 and 2025. Impairment of Long-Lived Assets (including Finite-Lived Intangible Assets) Long-lived assets are reviewed for impairment if indicators of potential impairment exist. If the Company identifies a change in the circumstances related to its long-lived assets, such as property and equipment and intangible assets, that indicates the carrying value of any such asset may not be recoverable, the Company will perform an impairment analysis. A long-lived asset is not recoverable when the undiscounted cash flows expected to be generated by the asset (or asset group) are less than the asset’s carrying amount. Any required impairment loss would be measured as the amount by which the asset’s carrying value exceeds its fair value, and would be recorded as a reduction in the carrying value of the related asset and a charge to operating expense. No impairment losses were recorded during the three and six months ended June 30, 2026 and 2025. Inventories The Company reviews its inventories for classification purposes. The value of inventories not expected to be realized in cash, sold or consumed during the next 12 months are classified as non-current within other long-term assets. As of June 30, 2026, $1.8 million of inventories were included in other long-term assets. As of June 30, 2026, the Company’s excess and obsolete inventory reserve balance was $2.8 million. Loss on disposal of property and equipment Loss on disposal of property and equipment includes the net book value of assets that have been abandoned or retired and consists primarily of our leasehold improvements, furniture, equipment and fixtures that were abandoned and disposed of in the normal course of business. The Company recorded an immaterial loss on disposal of property and equipment during the six months ended June 30, 2026 and a $0.3 million loss on disposal of property and equipment during the six months ended June 30, 2025. Segment Reporting Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s CODM is its Interim Chief Executive Officer. The Company has determined it has one operating and reportable segment. Segment information is consistent with how management reviews the business, makes investing and resource allocation decisions and assesses operating performance. The Company’s measure of segment performance on a consolidated basis is consolidated net loss, which the CODM uses to allocate resources, after considering the Company’s strategic priorities, its cash balance, and its expected use of cash. In making resource allocation decisions, the CODM also evaluates budgeted results compared to actual performance. The measure of segment assets is reported on the unaudited condensed consolidated balance sheets as total assets. Refer to the unaudited condensed consolidated statements of operations and comprehensive loss for the Company’s measure of profit (loss). See also Note 9 (Segment Reporting) in the accompanying notes to the unaudited condensed consolidated financial statements. Recently Issued Accounting Pronouncements In November 2024, the FASB issued Accounting Standards Update (“ASU”) 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires additional disclosure about specific expense categories in the notes to financial statements. The amendments are effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The amendments should be applied either prospectively to financial statements issued for reporting periods after the effective date of this ASU or retrospectively to any or all prior periods presented in the financial statements. The Company is currently evaluating the impact of this accounting standard update on the Company’s consolidated financial statements and related disclosures. In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow Scope Improvements. This ASU will improve the navigability of required interim disclosures and clarify when that guidance is applicable, and will require entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. This ASU is effective for interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company will adopt the standard for the interim periods within the year ending December 31, 2028. The Company is currently evaluating the impact of this accounting standard update on the Company’s consolidated financial statements and related disclosures. In December 2025, the FASB issued ASU 2025-12, Codification Improvements. This ASU addresses suggestions received from stakeholders regarding the ASC and makes other incremental improvements to GAAP. The update represents changes to the ASC that clarify, correct errors in or make other improvements to a variety of topics that are intended to make it easier to understand and apply, including amendments to clarify the calculation of earnings per share when a loss from continuing operations exists. This ASU is effective for fiscal years beginning after December 15, 2026 and interim periods within those fiscal years, with early adoption permitted. Entities are required to apply the amendments to ASC 260 retrospectively. All other amendments may be applied prospectively or retrospectively. The Company is currently evaluating the impact of this accounting standard update on the Company’s consolidated financial statements and related disclosures. Recently Issued Tax Legislation On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act of 2017, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. The provisions of OBBBA did not have a material impact on the Company’s unaudited condensed consolidated financial statements for the three and six months ended June 30, 2026. The Company will continue to evaluate the impact of OBBBA provisions with future effective dates on the Company’s consolidated financial statements and related disclosures for the year ending December 31, 2026.

Organization and Basis of Presentation

6 Months Ended

Jun. 30, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Basis of Presentation

1. Organization and Basis of Presentation

Description of Business

Bionano Genomics, Inc. (collectively, with its consolidated subsidiaries, the “Company”) is a provider of genome analysis solutions that can enable researchers and clinicians to reveal answers to challenging questions in biology and medicine. The Company offers optical genome mapping (“OGM”) solutions, diagnostic services and software for applications across basic, translational and clinical research, and for other applications including bioprocessing. The Company offers a platform-agnostic software solution, which integrates next-generation sequencing, microarray and OGM data designed to provide analysis, visualization, interpretation and reporting of copy number variants, single-nucleotide variants and absence of heterozygosity across the genome in one consolidated view. The Company also offers nucleic acid extraction and purification solutions using proprietary isotachophoresis (“ITP”) technology. Through its wholly-owned subsidiary, Lineagen Inc. (doing business as Bionano Laboratories), the Company also provides OGM-based diagnostic testing services.

Reverse Stock Split

On January 24, 2025, the Company filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to effect a reverse stock split of all issued and outstanding shares of the Company’s common stock at a ratio of 1-for-60. The reverse stock split did not change the par value or the authorized number of shares of the Company’s common stock. The Company’s condensed consolidated financial statements and notes to the condensed consolidated financial statements present the retroactive effect of the reverse stock split on the Company’s common stock and per share amounts for all periods presented.

Basis of Presentation

The accompanying financial information has been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim reporting purposes. The condensed consolidated financial statements are unaudited. The unaudited condensed consolidated financial statements reflect, in the opinion of the Company’s management, all adjustments, consisting of only normal recurring adjustments, necessary for a fair presentation of financial position, results of operations, changes in equity, and comprehensive loss and cash flows for each period presented in accordance with United States generally accepted accounting principles (“U.S. GAAP”). All intercompany transactions and balances have been eliminated. The operating results presented in these unaudited interim condensed financial statements are not necessarily indicative of the results that may be expected for any future periods. These interim unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

Liquidity and Going Concern

The Company has experienced recurring net losses from operations, negative cash flows from operating activities, and a significant accumulated deficit since its inception and expects to continue to incur net losses into the foreseeable future. As of June 30, 2026, the Company had approximately $3.7 million in cash and cash equivalents, $6.2 million in short-term investments, $0.5 million in restricted cash and investments, and working capital of $14.8 million. The $0.5 million of restricted cash is included in an Irrevocable Standby Letter of Credit (“Letter of Credit”) set to expire on September 30, 2026.

As of June 30, 2026, the Company had fully redeemed the outstanding principal balance under the Debentures (see Note 5 (Debt) to our unaudited condensed consolidated financial statements). During the six months ended June 30, 2026, the Company used $10.4 million of cash in operations and had an accumulated deficit of $735.3 million as of June 30, 2026.

Management expects operating losses and negative cash flows to continue for at least the next year as the Company continues to incur costs related to product development and commercialization efforts. Management has prepared cash flows forecasts which indicate that based on the Company’s expected operating losses and negative cash flows, there is substantial doubt about the Company’s ability to continue as a going concern within twelve months after the date that the unaudited condensed consolidated financial statements for the six months ended June 30, 2026, are issued. Management’s ability to continue as a going concern is dependent upon its ability to raise additional funding. Management’s plans to raise additional capital to fulfill its operating and capital requirements for at least twelve months include public or private equity or debt financings. However, the Company may not be able to secure such financing in a timely manner or on favorable terms, if at all, and if the Company is unable to raise sufficient additional capital in the very near term, it may need to further curtail or cease operations and seek protection by filing a voluntary petition for relief under the United States Bankruptcy Code.

Furthermore, if the Company issues equity securities to raise additional funds, its existing stockholders may experience dilution, and the new equity securities may have rights, preferences and privileges senior to those of the Company’s existing stockholders.

The unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities in the normal course of business, and do not include any adjustments to reflect the outcome of this uncertainty.

Significant Accounting Policies

During the three and six months ended June 30, 2026, there were no material changes to the Company’s significant accounting policies as described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

Restructuring Expenses

The Company’s restructuring expense primarily consisted of actions taken in May and October 2023 (the “2023 Workforce Reductions”) and March and September 2024 (the “2024 Workforce Reductions”) in order to reduce costs and improve operations and manufacturing efficiency. Severance-related costs were accounted for as a one-time termination benefit communicated by period end without an additional service component, so the charge represented the total amount expected to be incurred. As a result of reducing facility costs and discretionary spending unrelated to headcount and combined with the cost savings from the 2023 Workforce Reductions and 2024 Workforce Reductions, such plans were intended to decrease expenses and maintain a streamlined organization to support the Company’s business. No restructuring charges were incurred during the three and six months ended June 30, 2026 and 2025.

Impairment of Long-Lived Assets (including Finite-Lived Intangible Assets)

Long-lived assets are reviewed for impairment if indicators of potential impairment exist. If the Company identifies a change in the circumstances related to its long-lived assets, such as property and equipment and intangible assets, that indicates the carrying value of any such asset may not be recoverable, the Company will perform an impairment analysis. A long-lived asset is not recoverable when the undiscounted cash flows expected to be generated by the asset (or asset group) are less than the asset’s carrying amount. Any required impairment loss would be measured as the amount by which the asset’s carrying value exceeds its fair value, and would be recorded as a reduction in the carrying value of the related asset and a charge to operating expense. No impairment losses were recorded during the three and six months ended June 30, 2026 and 2025.

Inventories

The Company reviews its inventories for classification purposes. The value of inventories not expected to be realized in cash, sold or consumed during the next 12 months are classified as non-current within other long-term assets. As of June 30, 2026, $1.8 million of inventories were included in other long-term assets.

As of June 30, 2026, the Company’s excess and obsolete inventory reserve balance was $2.8 million.

Loss on disposal of property and equipment

Loss on disposal of property and equipment includes the net book value of assets that have been abandoned or retired and consists primarily of our leasehold improvements, furniture, equipment and fixtures that were abandoned and disposed of in the normal course of business. The Company recorded an immaterial loss on disposal of property and equipment during the six months ended June 30, 2026 and a $0.3 million loss on disposal of property and equipment during the six months ended June 30, 2025.

Segment Reporting

Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s CODM is its Interim Chief Executive Officer. The Company has determined it has one operating and reportable segment. Segment information is consistent with how management reviews the business, makes investing and resource allocation decisions and assesses operating performance. The Company’s measure of segment performance on a consolidated basis is consolidated net loss, which the CODM uses to allocate resources, after considering the Company’s strategic priorities, its cash balance, and its expected use of cash. In making resource allocation decisions, the CODM also evaluates budgeted results compared to actual performance. The measure of segment assets is reported on the unaudited condensed consolidated balance sheets as total assets. Refer to the unaudited condensed consolidated statements of operations and comprehensive loss for the Company’s measure of profit (loss). See also Note 9 (Segment Reporting) in the accompanying notes to the unaudited condensed consolidated financial statements.

Recently Issued Accounting Pronouncements

In November 2024, the FASB issued Accounting Standards Update (“ASU”) 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires additional disclosure about specific expense categories in the notes to financial statements. The amendments are effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The amendments should be applied either prospectively to financial statements issued for reporting periods after the effective date of this ASU or retrospectively to any or all prior periods presented in the financial statements. The Company is currently evaluating the impact of this accounting standard update on the Company’s consolidated financial statements and related disclosures.

In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow Scope Improvements. This ASU will improve the navigability of required interim disclosures and clarify when that guidance is applicable, and will require entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. This ASU is effective for interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company will adopt the standard for the interim periods within the year ending December 31, 2028. The Company is currently evaluating the impact of this accounting standard update on the Company’s consolidated financial statements and related disclosures.

In December 2025, the FASB issued ASU 2025-12, Codification Improvements. This ASU addresses suggestions received from stakeholders regarding the ASC and makes other incremental improvements to GAAP. The update represents changes to the ASC that clarify, correct errors in or make other improvements to a variety of topics that are intended to make it easier to understand and apply, including amendments to clarify the calculation of earnings per share when a loss from continuing operations exists. This ASU is effective for fiscal years beginning after December 15, 2026 and interim periods within those fiscal years, with early adoption permitted. Entities are required to apply the amendments to ASC 260 retrospectively. All other amendments may be applied prospectively or

retrospectively. The Company is currently evaluating the impact of this accounting standard update on the Company’s consolidated financial statements and related disclosures.

Recently Issued Tax Legislation

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act of 2017, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. The provisions of OBBBA did not have a material impact on the Company’s unaudited condensed consolidated financial statements for the three and six months ended June 30, 2026. The Company will continue to evaluate the impact of OBBBA provisions with future effective dates on the Company’s consolidated financial statements and related disclosures for the year ending December 31, 2026.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Restructuring Cost and Reserve [Line Items]
Restricted cash	$ 501	$ 0

- Definition

Amount of cash restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Stockholders’ Equity and Stock-Based Compensation

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Stockholders’ Equity and Stock-Based Compensation

6. Stockholders’ Equity and Stock-Based Compensation

Sale of Common Stock

Cowen At-the-Market Facility

On March 23, 2021, the Company entered into a Sales Agreement with Cowen and Company, LLC (“Cowen”) which provides for the sale, in the Company’s sole discretion, of shares of common stock having an aggregate offering price of up to $350.0 million through or to Cowen, acting as sales agent or principal, which was amended on March 9, 2023 to decrease the maximum aggregate offering price to $200.0 million for sales made on and after the date of the amendment (the “Cowen ATM”). The Company agreed to pay Cowen a commission of up to 3.0% of the aggregate gross proceeds from each sale of shares, reimburse legal fees and disbursements and provide Cowen with customary indemnification and contribution rights. On February 4, 2025, the Company provided notice of its termination, effective February 14, 2025, of the Cowen ATM.

Wainwright At-the-Market Facility

On February 21, 2025, the Company entered into an At The Market Offering Agreement (the “ATM Agreement”) with H.C. Wainwright & Co., LLC (“Wainwright”), pursuant to which the Company may offer and sell, from time to time at its sole discretion, shares of its common stock having an aggregate offering price of up to $75.0 million, through or to Wainwright, acting as sales agent or principal. The Company agreed to pay Wainwright a commission of up to 3.0% of the aggregate gross proceeds from each sale of shares, reimburse

legal fees and disbursements and provide Wainwright with customary indemnification and contribution rights. During the six months ended June 30, 2026, the Company sold approximately 1.0 million shares of common stock under the ATM Agreement at an average share price of $1.28 per share, and received gross proceeds of approximately $1.3 million before deducting offering costs of $0.05 million.

Stock Warrants

A summary of the Company’s warrant activity during the six months ended June 30, 2026 was as follows:


	Shares of Stock under Warrants		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2026		12,080,500	$	13.22		2.87	$	—
Granted		—		—		—		—
Exercised		—		—		—		—
Canceled		—		—		—		—
Outstanding at June 30, 2026		12,080,500	$	13.22		2.40	$	—

Stock Options

A summary of the Company’s stock option activity during the six months ended June 30, 2026 was as follows:


	Shares of Stock under Stock Options			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2026		190,000		$	237.26		8.71	$	—
Granted		493,000			1.26		—		—
Exercised		—			—		—		—
Canceled		(67,000	)		10.02		—		—
Outstanding and expected to vest at June 30, 2026		616,000			71.66		7.82		12.00
Vested and exercisable at June 30, 2026		186,000		$	228.01		5.63	$	—

For the three and six months ended June 30, 2026, the weighted-average grant date fair value of stock options granted was $0.90 and $1.04 per share, respectively.

Stock-Based Compensation

The Company recognized stock-based compensation expense for the periods presented as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Cost of product revenue	$	27	$	40	$	58	$	77
Cost of service and other revenue		—		—		—		—
Research and development		71		160		149		410
General and administrative		872		880		1,433		2,180
Total stock-based compensation expense	$	970	$	1,080	$	1,640	$	2,667

The weighted-average assumptions used in the Black-Scholes-Merton option pricing model to determine the fair value of the employee stock option grants during the periods presented were as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Risk-free interest rate		4.1	%		4.0	%		3.9	%		4.1	%
Expected volatility		94.2	%		119.3	%		108.1	%		135.0	%
Expected term (in years)		5.3			5.5			5.7			5.6
Expected dividend yield		0.0	%		0.0	%		0.0	%		0.0	%

Restricted Stock Units

The following table summarizes RSU activity during the six months ended June 30, 2026:


	Stock Units			Weighted- Average Grant Date Fair Value per Share
Outstanding at January 1, 2026		3,490		$	290.34
Granted		—			—
Released		(1,490	)		356.64
Forfeited		(260	)		63.31
Outstanding at June 30, 2026		1,740		$	265.28

The total fair value of the RSUs that vested during the six months ended June 30, 2026 was $0.5 million, determined as of the date of vesting. The weighted average remaining contractual term for the RSUs was 1.7 years as of June 30, 2026.

Executive Option Grants

On February 2, 2026, the compensation committee of the Company’s board of directors granted various executive officers stock options to purchase an aggregate of approximately 0.2 million shares of common stock at an exercise price of $1.27 per share, with an effective grant date and vesting commencement date of February 2, 2026.

These stock option grants were issued from the 2018 Plan. The shares subject to the stock options shall vest monthly over 48 months beginning on the one-month anniversary of their respective grant dates, such that the stock options shall be fully vested and exercisable on the four-year anniversary of their respective grant dates.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Investments and Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurement of Assets And Liabilities

The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025 (in thousands):


	June 30, 2026
			Fair Value Measurement Category
	Total Fair Value and Carrying Value on Balance Sheet		Level 1		Level 2		Level 3
Assets:
U.S. treasuries classified as short-term investments	$	6,189	$	—	$	6,189	$	—
Money market funds classified as cash equivalents	$	1,864	$	1,864	$	—	$	—


	December 31, 2025
			Fair Value Measurement Category
	Total Fair Value and Carrying Value on Balance Sheet		Level 1		Level 2		Level 3
Assets:
U.S. treasuries classified as short-term investments	$	16,279	$	—	$	16,279	$	—
Money market funds classified as cash equivalents	$	1,887	$	1,887	$	—	$	—
Money market funds classified as restricted cash and investments	$	1,519	$	1,519	$	—	$	—
U.S. treasuries classified as restricted cash and investments	$	8,747	$	—	$	8,747	$	—
Liabilities:
Convertible debentures payable	$	9,979	$	—	$	—	$	9,979

Schedule of Fair Value Measurement Inputs and Valuation Techniques

The key input assumptions utilized are summarized in the table below:


	Convertible Debentures Payable
	December 31, 2025
Expected volatility		116.00	%
Risk-free interest rate		3.59	%
Term to maturity (years)		0.40
Debt discount rate		18.17	%
Equity discount rate		3.59	%

Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

Changes in estimated fair value of convertible debentures payable in the six months ended June 30, 2026 and 2025 are as follows (in thousands):


	Convertible Debentures Payable (Level 3 Measurement)
Balance as of January 1, 2025	$	20,362
Changes in estimated fair value, interest and redemption payments, recorded in other income (expense), net		(5,250	)
Conversions to common stock		(350	)
Cash payments on redemptions		(3,000	)
Balance as of June 30, 2025	$	11,762

Balance as of January 1, 2026	$	9,979
Changes in estimated fair value, interest and redemption payments, recorded in other income (expense), net		287
Conversions to common stock		—
Cash payments on redemptions		(10,266	)
Balance as of June 30, 2026	$	—

Schedule of Marketable Securities

As of June 30, 2026, the following table summarizes the amortized cost and the unrealized gains (losses) of the available for sale securities presented within investments (in thousands):


	Remaining Contractual Maturity (in years)	Amortized Cost		Unrealized Gains		Unrealized Losses		Aggregate Estimated Fair Value
U.S. treasuries classified as short-term investments	Less than 1		6,189		—		—		6,189
Total maturity less than 1 year		$	6,189	$	—	$	—	$	6,189

As of December 31, 2025, the following table summarizes the amortized cost and the unrealized gains (losses) of the available for sale securities presented within investments and restricted cash and investments (in thousands):


	Remaining Contractual Maturity (in years)	Amortized Cost		Unrealized Gains		Unrealized Losses		Aggregate Estimated Fair Value
U.S. treasuries classified as short-term investments	Less than 1		16,278		1		—		16,279
U.S. treasuries classified as restricted cash and investments	Less than 1		8,746		1		—		8,747
Total maturity less than 1 year		$	25,024	$	2	$	—	$	25,026

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

Revenue Recognition - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Disaggregation of Revenue [Line Items]
Performance obligation	$ 1.3		$ 1.3
Revenue recognized	$ 0.4	$ 0.4	$ 1.1	$ 1.0
Revenue from Contract with Customer \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk (as a percent)	100.00%	100.00%	100.00%	100.00%
United States \| Revenue from Contract with Customer \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk (as a percent)	23.10%	38.90%	26.10%	38.70%
France \| Revenue from Contract with Customer \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk (as a percent)	10.10%		10.30%

- Definition

For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Stockholders' Equity and Stock-Based Compensation - Warrant Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2026	Dec. 31, 2025
Shares of Stock under Warrants
Beginning balance (in shares)	12,080,500
Ending balance (in shares)	12,080,500	12,080,500
Weighted- Average Exercise Price
Beginning balance (in dollars per share)	$ 13.22
Ending balance (in dollars per share)	$ 13.22	$ 13.22
Weighted- Average Remaining Contractual Term
Outstanding (in years)	2 years 4 months 24 days	2 years 10 months 13 days
Aggregate Intrinsic Value
Beginning balance	$ 0
Granted	0
Exercised	0
Canceled	0
Ending balance	$ 0	$ 0

Balance Sheet Account Details - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Property, Plant, and Equipment [Line Items]
Total property and equipment, gross	$ 42,145	$ 43,047
Less accumulated depreciation and amortization	(29,128)	(28,200)
Total property and equipment, net	13,017	14,847
Computer and Office Equipment
Property, Plant, and Equipment [Line Items]
Total property and equipment, gross	2,200	2,707
Lab Equipment
Property, Plant, and Equipment [Line Items]
Total property and equipment, gross	14,674	14,846
Service Equipment Placed at Customer Sites
Property, Plant, and Equipment [Line Items]
Total property and equipment, gross	22,765	22,608
Leasehold Improvements
Property, Plant, and Equipment [Line Items]
Total property and equipment, gross	$ 2,506	$ 2,886

- Definition

Amount of accumulated depreciation, depletion, and amortization of property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

+ References + Details

- Definition

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+ Details

- Definition

Amount, after accumulated depreciation, depletion, and amortization, of property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

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+ Details

Debt - Schedule of Convertible Debt (Details) - Convertible Debt $ in Thousands	6 Months Ended
	Jun. 30, 2026 USD ($)
Debt Instrument [Roll Forward]
Ending balance	$ 10,300
Convertible Debentures Payable
Debt Instrument [Roll Forward]
Beginning balance	10,266
Conversions	0
Redemption payments of principal	(10,266)
Ending balance	$ 0

Balance Sheet Account Details - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Compensation expenses	$ 2,201	$ 3,537
Taxes payable	162	272
Insurance	16	502
Professional fees and royalties	66	89
Warranty liabilities	595	561
Other	416	499
Total	$ 3,456	$ 5,460

Balance Sheet Account Details - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 26,800	$ 26,800
Accumulated Amortization	(25,237)	(22,557)
Net Carrying Amount	1,563	4,243
Trade Name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,000	1,000
Accumulated Amortization	(942)	(842)
Net Carrying Amount	58	158
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,000	3,000
Accumulated Amortization	(2,825)	(2,525)
Net Carrying Amount	175	475
Developed Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	22,800	22,800
Accumulated Amortization	(21,470)	(19,190)
Net Carrying Amount	$ 1,330	$ 3,610

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482558/350-40-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 985
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-URI https://asc.fasb.org/1943274/2147481283/985-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 30
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-Paragraph 3
-Subparagraph (d)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
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Reference 13: http://www.xbrl.org/2003/role/exampleRef
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Reference 38: http://www.xbrl.org/2003/role/disclosureRef
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Reference 39: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483154/926-20-50-5

+ Details

Net Loss Per Share

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Net Loss Per Share

2. Net Loss Per Share

Basic net loss per share is calculated by dividing the net loss by the weighted-average number of common shares outstanding for the period. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of common shares and common share equivalents outstanding for the period. Common share equivalents are only included when their effect is dilutive. The Company’s potentially dilutive securities which include outstanding convertible debentures payable into common stock, outstanding common warrants to purchase common stock, restricted stock units (“RSUs”), and outstanding stock options under the Company’s equity incentive plans. For all periods presented, there was no difference in the number of shares used to calculate basic and diluted shares outstanding due to the Company’s net loss position.

Potentially dilutive securities not included in the calculation of diluted net loss per share because to do so would be anti-dilutive were as follows (in common stock equivalent shares):


	June 30,
	2026		2025
Common stock options		616,000		190,000
Common warrants		12,080,500		2,080,500
Convertible debentures		—		749,000
RSUs		1,740		4,160
Total		12,698,240		3,023,660

Balance Sheet Account Details - Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025	Jun. 30, 2025	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts receivable, trade	$ 4,384	$ 5,218		$ 4,909
Less allowance for credit losses	(18)	(18)	$ (108)	(157)
Total accounts receivable, net	$ 4,366	$ 5,200		$ 4,752

Debt - Schedule of Other Income (Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Debt Disclosure [Abstract]
Other interest expense	$ (70)	$ (73)	$ (142)	$ (158)
Changes in estimated fair value on convertible debentures	(289)	(587)	(745)	4,484
Other income (expense)	15	1,336	(76)	1,430
Total other income (expense)	$ (344)	$ 676	$ (963)	$ 5,756

Stockholders’ Equity and Stock-Based Compensation - Assumptions (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Equity [Abstract]
Risk-free interest rate	4.10%	4.00%	3.90%	4.10%
Expected volatility	94.20%	119.30%	108.10%	135.00%
Expected term (in years)	5 years 3 months 18 days	5 years 6 months	5 years 8 months 12 days	5 years 7 months 6 days
Expected dividend yield	0.00%	0.00%	0.00%	0.00%

Revenue Recognition - Revenue by Source and Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Disaggregation of Revenue [Line Items]
Total revenue	$ 8,171	$ 6,733	$ 14,858	$ 13,190
Americas
Disaggregation of Revenue [Line Items]
Total revenue	3,023	2,926	5,517	5,984
EMEA
Disaggregation of Revenue [Line Items]
Total revenue	4,841	3,228	8,393	6,294
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenue	$ 307	$ 579	$ 948	$ 912
Revenue from Contract with Customer \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk (as a percent)	100.00%	100.00%	100.00%	100.00%
Revenue from Contract with Customer \| Geographic Concentration Risk \| Americas
Disaggregation of Revenue [Line Items]
Concentration risk (as a percent)	37.00%	43.50%	37.10%	45.40%
Revenue from Contract with Customer \| Geographic Concentration Risk \| EMEA
Disaggregation of Revenue [Line Items]
Concentration risk (as a percent)	59.20%	47.90%	56.50%	47.70%
Revenue from Contract with Customer \| Geographic Concentration Risk \| Asia Pacific
Disaggregation of Revenue [Line Items]
Concentration risk (as a percent)	3.80%	8.60%	6.40%	6.90%
Product revenue
Disaggregation of Revenue [Line Items]
Total revenue	$ 7,693	$ 6,310	$ 13,787	$ 12,314
Instruments
Disaggregation of Revenue [Line Items]
Total revenue	2,037	1,399	2,999	2,088
Consumables
Disaggregation of Revenue [Line Items]
Total revenue	4,285	3,276	8,185	6,523
Software
Disaggregation of Revenue [Line Items]
Total revenue	1,371	1,635	2,603	3,703
Services and other
Disaggregation of Revenue [Line Items]
Total revenue	$ 478	$ 423	$ 1,071	$ 876

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Schedule of Lessee, Operating Lease, Liability, Maturity

The future minimum payments under non-cancellable operating and finance leases as of June 30, 2026, are as follows (in thousands):


	Operating Leases			Finance Lease
Remainder of 2026		440			173
2027		769			357
2028		804			365
2029		840			373
2030		1,052			382
Thereafter		—			4,474
Total future lease payments		3,905			6,124
Less: imputed interest		(888	)		(2,437	)
Total lease liabilities		3,017			3,687
Less: lease liability, current portion		633			243
Lease liability, net of current portion	$	2,384		$	3,444

Schedule of Restructuring Charges

The following is a summary of the accrued restructuring liability that was recorded in connection with the reductions in force for the six months ended June 30, 2026 and the year ended December 31, 2025 included within accrued expenses on the unaudited condensed consolidated financial statements (in thousands):


Accrued restructuring as of January 1, 2025	$	561
Restructuring charges incurred during the period		—
Cash payments		(302	)
Accrued restructuring as of December 31, 2025	$	259

Accrued restructuring as of January 1, 2026	$	259
Restructuring charges incurred during the period		—
Cash payments		(43	)
Accrued restructuring as of June 30, 2026	$	216

Debt - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended	6 Months Ended
	Jan. 03, 2025	May 24, 2024	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Debt Instrument [Line Items]
Common stock, shares issued (in shares)				11,777,300		10,740,200
Proceeds from sale of common stock and warrants				$ 1,325	$ 16,408
Issuance of common stock for convertible debentures payable				$ 0	$ 350
Warrants to purchase, fair value preferred stock (in dollars per share)				$ 13.22		$ 13.22
Issuance of common stock for convertible debentures payable			$ 350
Convertible Debt
Debt Instrument [Line Items]
Common stock, shares issued (in shares)		38,000
Fair value of debt				$ 20,000
Proceeds from sale of common stock and warrants		$ 16,300
Debt instrument, unamortized discount (premium), net				$ 2,000
Principal amount (as a percent)				11.00%
Interest expense, subordinated notes and debentures				$ 500
Convertible purchase price (in dollars per share)	$ 16.2			$ 16.2
Outstanding principal balance				$ 10,300
Maturity date				May 26, 2026
Convertible Debt \| Private Placement
Debt Instrument [Line Items]
Number of convertible common stock (in shares)	22,000
Issuance of common stock for convertible debentures payable	$ 400
Convertible Debt \| Convertible Secured Debentures
Debt Instrument [Line Items]
Fair value of debt		20,000
Issuance of convertible debentures		$ 18,000

Commitments and Contingencies - Schedule of Accrued Restructuring Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2026	Dec. 31, 2025
Restructuring Reserve [Roll Forward]
Restructuring charges incurred during the period	$ 200	$ 300
Workforce Reduction
Restructuring Reserve [Roll Forward]
Accrued restructuring as of beginning balance	259	561
Restructuring charges incurred during the period	0	0
Cash payments	(43)	(302)
Accrued restructuring as of ending balance	$ 216	$ 259

Segment Reporting

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Segment Reporting

9. Segment Reporting

The following table presents financial information with respect to the Company’s single operating segment, including significant segment expenses, which are regularly provided to the CODM and included within consolidated operating loss (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Revenues	$	8,171		$	6,733		$	14,858		$	13,190
Cost of revenue		3,857			3,256			7,292			6,774
Operating expenses
Salaries, wages, and benefits		6,189			5,471			11,951			11,293
Contracted services		2,146			2,400			4,292			5,079
Non-inventory materials		233			272			480			353
Consulting		344			302			517			815
Rent and facilities		639			562			1,370			1,134
Depreciation and amortization		1,692			1,811			3,404			3,641
Travel and entertainment		156			119			371			246
Administrative and other		133			340			296			117
Total operating expenses		11,532			11,277			22,681			22,678
Loss from operations	$	(7,218	)	$	(7,800	)	$	(15,115	)	$	(16,262	)

Administrative and other primarily includes operating expenses for gain on lease termination/modification, disposals of property, plant, and equipment and taxes, interest, and fees.

- Definition

The entire disclosure for segment reporting.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stockholders’ Equity and Stock-Based Compensation - Stock Option Activity (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2026	Dec. 31, 2025
Shares of Stock under Stock Options
Beginning balance (in shares)	190,000
Granted (in shares)	493,000
Exercised (in shares)	0
Canceled (in shares)	(67,000)
Ending balance (in shares)	616,000	190,000
Vested and exercisable (in shares)	186,000
Weighted- Average Exercise Price
Beginning balance (in dollars per share)	$ 237.26
Granted (in dollars per share)	1.26
Exercised (in dollars per share)	0
Canceled (in dollars per share)	10.02
Ending balance (in dollars per share)	71.66	$ 237.26
Vested and exercisable (in dollars per share)	$ 228.01
Weighted- Average Remaining Contractual Term
Outstanding (in years)	7 years 9 months 25 days	8 years 8 months 15 days
Vested and exercisable (in years)	5 years 7 months 17 days
Aggregate Intrinsic Value
Beginning balance	$ 0
Granted	0
Exercised	0
Canceled	0
Ending balance	12,000	$ 0
Vested and exercisable	$ 0

Investments and Fair Value Measurements - Contingent Consideration Liability (Details) - Convertible Debt - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 9,979	$ 20,362
Changes in estimated fair value, interest and redemption payments, recorded in other income (expense), net	287	(5,250)
Conversions to common stock	0	(350)
Cash payments on redemptions	(10,266)	(3,000)
Ending balance	$ 0	$ 11,762

Investments and Fair Value Measurements - Additional Information (Details)	Jun. 30, 2026 USD ($) Security	Dec. 31, 2025 USD ($) Security
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Restricted cash and investments	$ 500,000	$ 10,300,000
Allowance for credit loss	$ 0	$ 0
Number of securities in an unrealized loss position, less than 12 months \| Security	2	2
Number of securities in an unrealized loss position, greater than 12 months \| Security	0	0
Available for Sale Securities	$ 0
Gross Unrealized Loss		$ 0
Money Market Funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Restricted cash and investments		1,500,000
U.S. treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Restricted cash and investments		$ 8,800,000

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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+ Details

Investments and Fair Value Measurements

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Investments and Fair Value Measurements

8. Investments and Fair Value Measurements

The Company often holds investment securities that consist of highly liquid, U.S. treasuries and investment grade debt securities. The Company determines the fair value of its investment securities based upon one or more valuations reported by its investment accounting and reporting service provider. The investment service provider values the securities using a hierarchical security pricing model that relies primarily on valuations provided by an industry-recognized valuation service. Such valuations may be based on trade prices in active markets for identical assets or liabilities (Level 1 inputs) or valuation models using inputs that are observable either directly or indirectly (Level 2 inputs), such as quoted prices for similar assets or liabilities, yield curves, volatility factors, credit spreads, default rates, loss severity, current market and contractual prices for the underlying instruments or debt, and broker and dealer quotes, as well as other relevant economic measures.

The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025 (in thousands):


	June 30, 2026
			Fair Value Measurement Category
	Total Fair Value and Carrying Value on Balance Sheet		Level 1		Level 2		Level 3
Assets:
U.S. treasuries classified as short-term investments	$	6,189	$	—	$	6,189	$	—
Money market funds classified as cash equivalents	$	1,864	$	1,864	$	—	$	—


	December 31, 2025
			Fair Value Measurement Category
	Total Fair Value and Carrying Value on Balance Sheet		Level 1		Level 2		Level 3
Assets:
U.S. treasuries classified as short-term investments	$	16,279	$	—	$	16,279	$	—
Money market funds classified as cash equivalents	$	1,887	$	1,887	$	—	$	—
Money market funds classified as restricted cash and investments	$	1,519	$	1,519	$	—	$	—
U.S. treasuries classified as restricted cash and investments	$	8,747	$	—	$	8,747	$	—
Liabilities:
Convertible debentures payable	$	9,979	$	—	$	—	$	9,979

The Company’s restricted cash and investments balance of $10.3 million as of December 31, 2025 includes $1.5 million of money market funds that were recorded as restricted cash and $8.8 million of U.S. treasuries that were recorded as restricted investments.

JGB Convertible Debentures Payable

The fair value of the JGB convertible debentures, which were issued on May 24, 2024, and fully redeemed shortly after maturity on May 26, 2026, were estimated using a scenario-based analysis on a quarterly basis. The fair value was estimated using a lattice model. The key input assumptions utilized are summarized in the table below:


	Convertible Debentures Payable
	December 31, 2025
Expected volatility		116.00	%
Risk-free interest rate		3.59	%
Term to maturity (years)		0.40
Debt discount rate		18.17	%
Equity discount rate		3.59	%

The volatility is based on an analysis of the Company’s historical stock price, the risk-free rate is based on US treasury yields, the equity discount rate is based on term-specific US treasury yields, and the debt discount rate is based on the Company’s credit rating.

Changes in estimated fair value of convertible debentures payable in the six months ended June 30, 2026 and 2025 are as follows (in thousands):


	Convertible Debentures Payable (Level 3 Measurement)
Balance as of January 1, 2025	$	20,362
Changes in estimated fair value, interest and redemption payments, recorded in other income (expense), net		(5,250	)
Conversions to common stock		(350	)
Cash payments on redemptions		(3,000	)
Balance as of June 30, 2025	$	11,762

Balance as of January 1, 2026	$	9,979
Changes in estimated fair value, interest and redemption payments, recorded in other income (expense), net		287
Conversions to common stock		—
Cash payments on redemptions		(10,266	)
Balance as of June 30, 2026	$	—

Available for Sale Investments

The Company invests its excess cash in U.S. treasury and agency securities, corporate debt securities, and commercial paper, which are classified as available-for-sale investments. These investments are carried at fair value and are included in the tables below. The Company records an allowance for credit losses when unrealized losses are due to credit-related factors. At each reporting date, the Company evaluates securities with unrealized losses to determine whether such losses, if any, are due to credit-related factors. The Company evaluates, among others, whether the Company has the intention to sell any of these investments and whether it is not more likely than not that the Company will be required to sell any of them before recovery of the amortized cost basis. Neither of these criteria were met in any period presented. The credit ratings of the securities held remain of the highest quality. Moreover, the Company continues to receive payments of interest and principal as they become due, and our expectation is that those payments will continue to be received timely. Based on this evaluation, as of June 30, 2026 and December 31, 2025, the Company determined that unrealized losses of the below securities were primarily attributable to changes in interest rates and non-credit related factors. As such, no allowances for credit losses were recorded during these periods.

As of June 30, 2026 and December 31, 2025, the Company held two securities, which have been in an immaterial unrealized loss position for a period of less than 12 months. As of June 30, 2026 and December 31, 2025, the Company held no securities which have been in an unrealized loss position for a period of greater than 12 months.

Realized gains and losses are calculated using the specific identification method and recorded in other income (expense) in the Company’s unaudited condensed consolidated statements of operations and comprehensive loss. The Company has the ability, if necessary, to liquidate any of its cash equivalents and marketable securities to meet its liquidity needs in the next 12 months.

During the six months ended June 30, 2026, the Company did not sell any of its available for sale securities. The Company recognizes losses in other income relating to any sales of its securities. Amounts are reclassified out of accumulated other comprehensive income into earnings using the specific identification method when sales are realized.

Interest receivable was immaterial as of June 30, 2026 and December 31, 2025. Interest receivable is recorded as a component of prepaid expenses and other current assets on the unaudited condensed consolidated balance sheets.

As of June 30, 2026, the following table summarizes the amortized cost and the unrealized gains (losses) of the available for sale securities presented within investments (in thousands):


	Remaining Contractual Maturity (in years)	Amortized Cost		Unrealized Gains		Unrealized Losses		Aggregate Estimated Fair Value
U.S. treasuries classified as short-term investments	Less than 1		6,189		—		—		6,189
Total maturity less than 1 year		$	6,189	$	—	$	—	$	6,189


	Remaining Contractual Maturity (in years)	Amortized Cost		Unrealized Gains		Unrealized Losses		Aggregate Estimated Fair Value
U.S. treasuries classified as short-term investments	Less than 1		16,278		1		—		16,279
U.S. treasuries classified as restricted cash and investments	Less than 1		8,746		1		—		8,747
Total maturity less than 1 year		$	25,024	$	2	$	—	$	25,026

As of June 30, 2026, there was an immaterial amount of available-for-sale securities listed as investments in an unrealized loss position for a period of less than 12 months, and none, for a period greater than 12 months.

As of December 31, 2025, there were no available-for-sale securities listed as investments in an unrealized loss position.

As of December 31, 2025, there was an immaterial amount of available-for-sale securities in an unrealized loss position for the available for sale securities presented within restricted cash and investments for a period of less than 12 months, and none, for a period greater than 12 months.

- 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

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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2026	Aug. 06, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2026
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-38613
Entity Registrant Name	Bionano Genomics, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-1756290
Entity Address, Address Line One	9540 Towne Centre Drive
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92121
City Area Code	858
Local Phone Number	888-7600
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	BNGO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		11,777,000
Entity Central Index Key	0001411690
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q2
Amendment Flag	false

Commitments and Contingencies - Undiscounted Future Non-Cancellable Lease Payments Under Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Operating Leases
Remainder of 2026	$ 440
2027	769
2028	804
2029	840
2030	1,052
Thereafter	0
Total future lease payments	3,905
Less: imputed interest	(888)
Total lease liabilities	3,017
Less: lease liability, current portion	633	$ 697
Lease liability, net of current portion	2,384	2,489
Finance Lease
Remainder of 2026	173
2027	357
2028	365
2029	373
2030	382
Thereafter	4,474
Total future lease payments	6,124
Less: imputed interest	(2,437)
Total lease liabilities	3,687
Less: lease liability, current portion	243	249
Lease liability, net of current portion	$ 3,444	$ 3,480

Net Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Schedule of Potentially Dilutive Securities not Included in Calculation of Diluted Net Loss Per Share Attributable to Common Stockholders

Potentially dilutive securities not included in the calculation of diluted net loss per share because to do so would be anti-dilutive were as follows (in common stock equivalent shares):


	June 30,
	2026		2025
Common stock options		616,000		190,000
Common warrants		12,080,500		2,080,500
Convertible debentures		—		749,000
RSUs		1,740		4,160
Total		12,698,240		3,023,660

Investments and Fair Value Measurements - Financial Assets and Liabilities (Details) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	$ 0
Fair Value, Recurring \| Cash Equivalents \| Money market funds classified as cash equivalents
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market funds classified as cash equivalents	1,864,000	$ 1,887,000
Fair Value, Recurring \| Restricted Cash and Investments \| Money market funds classified as cash equivalents
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market funds classified as cash equivalents		1,519,000
Fair Value, Recurring \| U.S. treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	6,189,000	16,279,000
Fair Value, Recurring \| U.S. treasuries \| Restricted Cash and Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments		8,747,000
Fair Value, Recurring \| Convertible High Trail notes payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value		9,979,000
Fair Value, Recurring \| Level 1 \| Cash Equivalents \| Money market funds classified as cash equivalents
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market funds classified as cash equivalents	1,864,000	1,887,000
Fair Value, Recurring \| Level 1 \| Restricted Cash and Investments \| Money market funds classified as cash equivalents
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market funds classified as cash equivalents		1,519,000
Fair Value, Recurring \| Level 1 \| U.S. treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0	0
Fair Value, Recurring \| Level 1 \| U.S. treasuries \| Restricted Cash and Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments		0
Fair Value, Recurring \| Level 1 \| Convertible High Trail notes payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value		0
Fair Value, Recurring \| Level 2 \| Cash Equivalents \| Money market funds classified as cash equivalents
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market funds classified as cash equivalents	0	0
Fair Value, Recurring \| Level 2 \| Restricted Cash and Investments \| Money market funds classified as cash equivalents
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market funds classified as cash equivalents		0
Fair Value, Recurring \| Level 2 \| U.S. treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	6,189,000	16,279,000
Fair Value, Recurring \| Level 2 \| U.S. treasuries \| Restricted Cash and Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments		8,747,000
Fair Value, Recurring \| Level 2 \| Convertible High Trail notes payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value		0
Fair Value, Recurring \| Level 3 \| Cash Equivalents \| Money market funds classified as cash equivalents
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market funds classified as cash equivalents	0	0
Fair Value, Recurring \| Level 3 \| Restricted Cash and Investments \| Money market funds classified as cash equivalents
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market funds classified as cash equivalents		0
Fair Value, Recurring \| Level 3 \| U.S. treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	$ 0	0
Fair Value, Recurring \| Level 3 \| U.S. treasuries \| Restricted Cash and Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments		0
Fair Value, Recurring \| Level 3 \| Convertible High Trail notes payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value		$ 9,979,000

Stockholders’ Equity and Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Warrant Activity

A summary of the Company’s warrant activity during the six months ended June 30, 2026 was as follows:


	Shares of Stock under Warrants		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2026		12,080,500	$	13.22		2.87	$	—
Granted		—		—		—		—
Exercised		—		—		—		—
Canceled		—		—		—		—
Outstanding at June 30, 2026		12,080,500	$	13.22		2.40	$	—

Schedule of Stock Option Activity

A summary of the Company’s stock option activity during the six months ended June 30, 2026 was as follows:


	Shares of Stock under Stock Options			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2026		190,000		$	237.26		8.71	$	—
Granted		493,000			1.26		—		—
Exercised		—			—		—		—
Canceled		(67,000	)		10.02		—		—
Outstanding and expected to vest at June 30, 2026		616,000			71.66		7.82		12.00
Vested and exercisable at June 30, 2026		186,000		$	228.01		5.63	$	—

Schedule of Share-based Payment Arrangement, Restricted Stock Unit, Activity

The following table summarizes RSU activity during the six months ended June 30, 2026:


	Stock Units			Weighted- Average Grant Date Fair Value per Share
Outstanding at January 1, 2026		3,490		$	290.34
Granted		—			—
Released		(1,490	)		356.64
Forfeited		(260	)		63.31
Outstanding at June 30, 2026		1,740		$	265.28

Schedule of Recognized Stock-Based Compensation Expense

The Company recognized stock-based compensation expense for the periods presented as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Cost of product revenue	$	27	$	40	$	58	$	77
Cost of service and other revenue		—		—		—		—
Research and development		71		160		149		410
General and administrative		872		880		1,433		2,180
Total stock-based compensation expense	$	970	$	1,080	$	1,640	$	2,667

Schedule of Weighted-Average Assumptions in Black -Scholes Option Pricing Model

The weighted-average assumptions used in the Black-Scholes-Merton option pricing model to determine the fair value of the employee stock option grants during the periods presented were as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Risk-free interest rate		4.1	%		4.0	%		3.9	%		4.1	%
Expected volatility		94.2	%		119.3	%		108.1	%		135.0	%
Expected term (in years)		5.3			5.5			5.7			5.6
Expected dividend yield		0.0	%		0.0	%		0.0	%		0.0	%

Stockholders’ Equity and Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands						3 Months Ended	6 Months Ended
	Feb. 02, 2026	Feb. 21, 2025	Jun. 03, 2024	Mar. 09, 2023	Mar. 23, 2021	Jun. 30, 2026	Jun. 30, 2026
Class of Stock [Line Items]
Offering price per unit (in dollars per share)						$ 1.28	$ 1.28
Number of shares sold (in shares)							1,000,000
Gross proceeds							$ 1,300
Debt issuance costs						$ 50	$ 50
Granted (in shares)							493,000
Granted (in dollars per share)							$ 1.26
Employee Stock Option Member
Class of Stock [Line Items]
Vested and exercisable (in dollars per share)						$ 0.9	$ 1.04
Share-based compensation arrangement by vested and exercisable (in years)			4 years
RSUs
Class of Stock [Line Items]
Fair value, vested							$ 500
Weighted average remaining contractual term (in years)							1 year 8 months 12 days
Cowen
Class of Stock [Line Items]
Aggregate offering price				$ 200,000	$ 350,000
Commission fee (as a percent)					3.00%
Wainwright
Class of Stock [Line Items]
Commission fee (as a percent)		3.00%
Number of shares sold (in shares)		75,000,000
Executive Officer
Class of Stock [Line Items]
Granted (in shares)	200,000
Granted (in dollars per share)	$ 1.27
Executive Officer \| Employee Stock Option Member
Class of Stock [Line Items]
Vesting period (in years)			48 months

Stockholders’ Equity and Stock-Based Compensation - Recognized Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 970	$ 1,080	$ 1,640	$ 2,667
Location, Statement of Income, Balance [Axis]: us-gaap:CostOfGoodsAndServicesSold \| Product revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	27	40	58	77
Location, Statement of Income, Balance [Axis]: us-gaap:ResearchAndDevelopmentExpense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	71	160	149	410
Location, Statement of Income, Balance [Axis]: us-gaap:SellingGeneralAndAdministrativeExpense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 872	$ 880	$ 1,433	$ 2,180

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section 35
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-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Revenue Recognition

Revenue by Source (in thousands)


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Instruments	$	2,037	$	1,399	$	2,999	$	2,088
Consumables		4,285		3,276		8,185		6,523
Software		1,371		1,635		2,603		3,703
Total product revenue		7,693		6,310		13,787		12,314
Services and other		478		423		1,071		876
Total revenue	$	8,171	$	6,733	$	14,858	$	13,190

Revenue by Geographic Location (in thousands)


	Three Months Ended June 30,										Six Months Ended June 30,
	2026					2025					2026					2025
	$		%			$		%			$		%			$		%
Americas	$	3,023		37.0	%	$	2,926		43.5	%	$	5,517		37.1	%	$	5,984		45.4	%
EMEA		4,841		59.2	%		3,228		47.9	%		8,393		56.5	%		6,294		47.7	%
Asia Pacific		307		3.8	%		579		8.6	%		948		6.4	%		912		6.9	%
Total	$	8,171		100	%	$	6,733		100	%	$	14,858		100	%	$	13,190		100	%

Revenue Recognition - Additional Information (Details1)	Jun. 30, 2026
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation (as a percent)	64.80%
Timing of satisfaction of remaining performance obligation	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation (as a percent)	30.70%
Timing of satisfaction of remaining performance obligation	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation (as a percent)	4.50%
Timing of satisfaction of remaining performance obligation	1 year

Balance Sheet Account Details

6 Months Ended

Jun. 30, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Account Details

4. Balance Sheet Account Details

Accounts Receivable and Allowance for Credit Losses (in thousands)


	June 30, 2026			December 31, 2025			December 31, 2024
Accounts receivable, net:
Accounts receivable, trade	$	4,384		$	5,218		$	4,909
Less allowance for credit losses		(18	)		(18	)		(157	)
Total accounts receivable, net	$	4,366		$	5,200		$	4,752

Changes to the allowance for credit losses during the six months ended June 30, 2026 and 2025 were as follows (in thousands):


	Allowance for Credit Losses
Balance as of January 1, 2025	$	(157	)
Provision for expected credit loss		—
Write-offs		49
Balance as of June 30, 2025		(108	)

Balance as of January 1, 2026		(18	)
Provision for expected credit loss		—
Write-offs		—
Balance as of June 30, 2026	$	(18	)

The Company’s analysis included an assessment of aged trade receivables balances and their underlying credit risk characteristics. The Company’s evaluation of past events, current conditions, and reasonable and supportable forecasts about the future resulted in an expectation of immaterial credit losses.

Inventory

The components of inventories, net of reserve, are as follows (in thousands):


	June 30,		December 31,
	2026		2025
Inventory:
Raw materials	$	5,289	$	5,539
Work in process		170		663
Finished goods		1,556		1,626
Total inventory	$	7,015	$	7,828
Inventories current	$	5,202	$	5,448
Inventories non-current (included in other long-term assets)	$	1,813	$	2,380

Property and Equipment, Net

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


	June 30, 2026			December 31, 2025
Computer and office equipment	$	2,200		$	2,707
Lab equipment		14,674			14,846
Service equipment placed at customer sites		22,765			22,608
Leasehold improvements		2,506			2,886
Total property and equipment, gross		42,145			43,047
Less accumulated depreciation and amortization		(29,128	)		(28,200	)
Total property and equipment, net	$	13,017		$	14,847

For the three months ended June 30, 2026 and 2025, the Company recorded depreciation expense of $1.0 million and $1.0 million, respectively, which includes an allocation to cost of revenue of $0.7 million and $0.6 million, respectively. For the six months ended June 30, 2026 and 2025, the Company recorded depreciation expense of $1.9 million and $2.1 million, respectively, which includes an allocation to cost of revenue of $1.3 million and $1.3 million, respectively.

Intangible Assets

Intangible assets that are subject to amortization consisted of the following at June 30, 2026 and December 31, 2025 (in thousands):


	June 30, 2026							December 31, 2025
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Trade name	$	1,000	$	(942	)	$	58	$	1,000	$	(842	)	$	158
Customer relationships		3,000		(2,825	)		175		3,000		(2,525	)		475
Developed technology		22,800		(21,470	)		1,330		22,800		(19,190	)		3,610
Intangibles, net	$	26,800	$	(25,237	)	$	1,563	$	26,800	$	(22,557	)	$	4,243

Intangible assets not subject to amortization totaled $0.1 million at June 30, 2026 and December 31, 2025 and related to the Company’s domain name.

Accrued Expenses

Accrued expenses consist of the following (in thousands):


	June 30, 2026		December 31, 2025
Compensation expenses	$	2,201	$	3,537
Taxes payable		162		272
Insurance		16		502
Professional fees and royalties		66		89
Warranty liabilities		595		561
Other		416		499
Total	$	3,456	$	5,460

Compensation expenses include accrued restructuring costs of $0.2 million and $0.3 million as of June 30, 2026 and December 31, 2025, respectively. Refer to Note 7 (Commitments and Contingencies).

Investments and Fair Value Measurements - Estimated Fair Value Assumption (Details) - Convertible Debentures Payable	Dec. 31, 2025
Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	1.16
Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0359
Term to maturity (years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.004
Debt discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.1817
Equity discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0359

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Investments and Fair Value Measurements - Amortized Cost and Unrealized Gains (Losses) (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Amortized Cost
Less than 1 year	$ 6,189	$ 25,024
Unrealized Gains
Less than 1 year	0	2
Unrealized Losses
Less than 1 year	0	0
Aggregate Estimated Fair Value
Less than 1 year	6,189	25,026
U.S. treasuries classified as short-term investments
Amortized Cost
Less than 1 year	6,189	16,278
Unrealized Gains
Less than 1 year	0	1
Unrealized Losses
Less than 1 year	0	0
Aggregate Estimated Fair Value
Less than 1 year	$ 6,189	16,279
U.S. treasuries classified as restricted cash and investments
Amortized Cost
Less than 1 year		8,746
Unrealized Gains
Less than 1 year		1
Unrealized Losses
Less than 1 year		0
Aggregate Estimated Fair Value
Less than 1 year		$ 8,747

Segment Reporting - Additional Information (Details)	6 Months Ended
Segment Reporting - Additional Information (Details)	Jun. 30, 2026 Segment
Segment Reporting [Abstract]
Number of operating segments	1

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 3,730	$ 2,990
Investments	6,189	16,279
Accounts receivable, net	4,366	5,200
Inventory	5,202	5,448
Prepaid expenses and other current assets	4,890	5,203
Restricted cash and investments	501	10,266
Total current assets	24,878	45,386
Property and equipment, net	13,017	14,847
Operating lease right-of-use assets	2,935	3,217
Finance lease right-of-use assets	2,993	3,095
Intangible assets, net	1,665	4,345
Other long-term assets	2,103	2,694
Total assets	47,591	73,584
Current liabilities:
Accounts payable	4,562	5,590
Accrued expenses	3,456	5,460
Contract liabilities	1,145	967
Operating lease liability	633	697
Finance lease liability	243	249
Convertible debentures payable (at fair value)	0	9,979
Total current liabilities	10,039	22,942
Operating lease liability, net of current portion	2,384	2,489
Finance lease liability, net of current portion	3,444	3,480
Long-term contract liabilities	118	249
Total liabilities	15,985	29,160
Commitments and contingencies (Note 7)
Stockholders’ equity:
Preferred stock, $0.0001 par value; 10,000,000 shares authorized and no shares issued or outstanding as of June 30, 2026 and December 31, 2025	0	0
Common stock, $0.0001 par value; 400,000,000 shares authorized at June 30, 2026 and December 31, 2025; 11,777,300 and 10,740,200 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	1	1
Additional paid-in capital	766,937	764,026
Accumulated deficit	(735,346)	(719,620)
Accumulated other comprehensive income	14	17
Total stockholders’ equity	31,606	44,424
Total liabilities and stockholders’ equity	$ 47,591	$ 73,584

Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue:
Total revenue	$ 8,171	$ 6,733	$ 14,858	$ 13,190
Cost of revenue:
Total cost of revenue	3,857	3,256	7,292	6,774
Operating expenses:
Research and development	2,988	2,931	6,127	5,299
Selling, general and administrative	8,544	8,346	16,554	17,379
Total operating expenses	11,532	11,277	22,681	22,678
Loss from operations	(7,218)	(7,800)	(15,115)	(16,262)
Other income (expense):
Interest income	146	277	369	566
Other income (expense)	(344)	676	(963)	5,756
Total other income (expense)	(198)	953	(594)	6,322
Loss before income taxes	(7,416)	(6,847)	(15,709)	(9,940)
Provision for income taxes	(7)	(10)	(17)	(18)
Net loss	$ (7,423)	$ (6,857)	$ (15,726)	$ (9,958)
Net loss per share, basic (in dollars per share)	$ (0.64)	$ (1.99)	$ (1.4)	$ (3.24)
Weighted-average common shares outstanding, basic (in shares)	11,546	3,441	11,264	3,070
Net loss per share, diluted (in dollars per share)	$ (0.64)	$ (1.99)	$ (1.4)	$ (3.24)
Weighted-average common shares outstanding, diluted (in shares)	11,546	3,441	11,264	3,070
Product revenue
Revenue:
Total revenue	$ 7,693	$ 6,310	$ 13,787	$ 12,314
Cost of revenue:
Total cost of revenue	3,724	3,150	6,929	6,202
Service and other revenue
Revenue:
Total revenue	478	423	1,071	876
Cost of revenue:
Total cost of revenue	$ 133	$ 106	$ 363	$ 572

Commitments and Contingencies

6 Months Ended

Jun. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

7. Commitments and Contingencies

Leases

The Company has entered into various operating lease agreements and a finance lease agreement, primarily relating to the Company’s office, laboratory, and manufacturing space.

The future minimum payments under non-cancellable operating and finance leases as of June 30, 2026, are as follows (in thousands):


	Operating Leases			Finance Lease
Remainder of 2026		440			173
2027		769			357
2028		804			365
2029		840			373
2030		1,052			382
Thereafter		—			4,474
Total future lease payments		3,905			6,124
Less: imputed interest		(888	)		(2,437	)
Total lease liabilities		3,017			3,687
Less: lease liability, current portion		633			243
Lease liability, net of current portion	$	2,384		$	3,444

Restructuring

The 2024 Workforce Reductions described in Note 1 (Organization and Basis of Presentation) comprised primarily of severance payments and wages for the 60-day notice period in accordance with the California Worker Adjustment and Retraining Notification (“WARN”) Act.

There were no restructuring charges incurred for the three and six months ended June 30, 2026 and 2025. The following is a summary of the accrued restructuring liability that was recorded in connection with the reductions in force for the six months ended June 30, 2026 and the year ended December 31, 2025 included within accrued expenses on the unaudited condensed consolidated financial statements (in thousands):


Accrued restructuring as of January 1, 2025	$	561
Restructuring charges incurred during the period		—
Cash payments		(302	)
Accrued restructuring as of December 31, 2025	$	259

Accrued restructuring as of January 1, 2026	$	259
Restructuring charges incurred during the period		—
Cash payments		(43	)
Accrued restructuring as of June 30, 2026	$	216

Litigation

From time to time, the Company may be subject to potential liabilities under various claims and legal actions that are pending or may be asserted. These matters arise in the ordinary course and conduct of the business. The Company regularly assesses contingencies to determine the degree of probability and range of possible loss for potential accrual in the unaudited condensed consolidated financial statements. An estimated loss contingency is accrued in the unaudited condensed consolidated financial statements if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Based on the Company’s assessment, it currently does not have any material loss exposure as it is not a defendant in any material claims or legal actions.

Debt

6 Months Ended

Jun. 30, 2026

Debt Disclosure [Abstract]

Debt

5. Debt

JGB Debentures

On May 24, 2024, the Company entered into a securities purchase agreement with certain accredited investors (the “Holders”) and JGB Collateral LLC, as collateral agent for the Holders, for the sale by the Company in a private placement (the “JGB Debentures Offering”) of:

•

38,000 shares (the “Shares”) of the Company’s common stock, and

•

Senior Secured Convertible Debentures in the aggregate principal amount of $20.0 million (the “Debentures”), for an aggregate purchase price of $18.0 million.

In connection with the closing of the JGB Debentures Offering, the Company received net proceeds of approximately $16.3 million, after payment of placement agent fees, and other offering expenses.

The Debentures had an aggregate face value of $20.0 million and were issued with an original issue discount of $2.0 million. The Debentures matured on May 24, 2026, and had an interest rate of 11.0% per annum payable monthly on the last business day of each calendar month. During the six months ended June 30, 2026, the Company paid the Holders $0.5 million in interest, which was included in the change in fair value within other income (expense), net. The outstanding principal balance of $10.3 million was redeemed in full shortly after maturity on May 26, 2026.

The Company recorded the Debentures at their fair value, per the fair value option under ASC 825 (refer to Note 8 (Investments and Fair Value Measurements)) and they were measured on a recurring basis and adjusted through other income and expense, net.

At the election of the holder, each Debenture was convertible, in whole or in part, at any time and from time to time at a conversion price of $16.20 per share of common stock, subject to adjustment for stock dividends, stock splits, and certain other corporate events.

As of June 30, 2026, the Debentures have been repaid in full and the principal outstanding balance was zero. The activity for the six months ended June 30, 2026 was as follows (in thousands):


	Debentures
Principal balance, January 1, 2026	$	10,266
Less:
Conversions		—
Redemption payments of principal		(10,266	)
Debentures principal balance, June 30, 2026	$	—

On January 3, 2025, the Holders converted $0.4 million of principal into approximately 22,000 shares of the Company’s common stock, at the conversion price of $16.20 per share.

Other Income (Expense), Net

The following is a summary of the charges included within other income (expense), net on the unaudited condensed consolidated statement of operations (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Other interest expense		(70	)		(73	)		(142	)		(158	)
Changes in estimated fair value on convertible debentures		(289	)		(587	)		(745	)		4,484
Other income (expense)		15			1,336			(76	)		1,430
Total other income (expense)	$	(344	)	$	676		$	(963	)	$	5,756

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Debt (Tables)

6 Months Ended

Jun. 30, 2026

Debt Disclosure [Abstract]

Schedule of Convertible Debt

As of June 30, 2026, the Debentures have been repaid in full and the principal outstanding balance was zero. The activity for the six months ended June 30, 2026 was as follows (in thousands):


	Debentures
Principal balance, January 1, 2026	$	10,266
Less:
Conversions		—
Redemption payments of principal		(10,266	)
Debentures principal balance, June 30, 2026	$	—

Schedule of Other Income (Expense)

The following is a summary of the charges included within other income (expense), net on the unaudited condensed consolidated statement of operations (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Other interest expense		(70	)		(73	)		(142	)		(158	)
Changes in estimated fair value on convertible debentures		(289	)		(587	)		(745	)		4,484
Other income (expense)		15			1,336			(76	)		1,430
Total other income (expense)	$	(344	)	$	676		$	(963	)	$	5,756

Balance Sheet Account Details - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Finite-Lived Intangible Assets [Line Items]
Restructuring charges incurred during the period			$ 0.2		$ 0.3
Depreciation expense, cost of revenue	$ 0.7	$ 0.6	1.3	$ 1.3
Depreciation expense	1.0	$ 1.0	1.9	$ 2.1
Internet Domain Names [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets not subject to amortization	$ 0.1		$ 0.1		$ 0.1

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Balance Sheet Account Details - Schedule of Components of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 5,289	$ 5,539
Work in process	170	663
Finished goods	1,556	1,626
Total inventory	7,015	7,828
Inventories current	5,202	5,448
Inventories non-current (included in other long-term assets)	$ 1,813	$ 2,380

Revenue Recognition

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

Revenue Recognition

3. Revenue Recognition

Revenue by Source (in thousands)


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Instruments	$	2,037	$	1,399	$	2,999	$	2,088
Consumables		4,285		3,276		8,185		6,523
Software		1,371		1,635		2,603		3,703
Total product revenue		7,693		6,310		13,787		12,314
Services and other		478		423		1,071		876
Total revenue	$	8,171	$	6,733	$	14,858	$	13,190

Revenue by Geographic Location (in thousands)


	Three Months Ended June 30,										Six Months Ended June 30,
	2026					2025					2026					2025
	$		%			$		%			$		%			$		%
Americas	$	3,023		37.0	%	$	2,926		43.5	%	$	5,517		37.1	%	$	5,984		45.4	%
EMEA		4,841		59.2	%		3,228		47.9	%		8,393		56.5	%		6,294		47.7	%
Asia Pacific		307		3.8	%		579		8.6	%		948		6.4	%		912		6.9	%
Total	$	8,171		100	%	$	6,733		100	%	$	14,858		100	%	$	13,190		100	%

The tables above provide revenue from contracts with customers by source and geographic region (based on the customer’s billing address) on a disaggregated basis. Americas consists of North America and South America. EMEA consists of Europe, the Middle East and Africa. Asia Pacific includes China, Japan, South Korea, Singapore, India and Australia.

For the three months ended June 30, 2026 and 2025, the United States represented approximately 23.1% and 38.9% of total revenue, respectively. For the six months ended June 30, 2026 and 2025, the United States represented approximately 26.1% and 38.7% of total revenue, respectively. For the three and six months ended June 30, 2026, France represented approximately 10.1% and 10.3% of total revenue, respectively. No other countries represented greater than 10% of total revenue during the three and six months ended June 30, 2026 and 2025.

Remaining Performance Obligations

As of June 30, 2026, the estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied was $1.3 million. These remaining performance obligations primarily relate to extended warranty and support and maintenance obligations, as well as obligations related to software under hosting arrangements. The Company expects to recognize approximately 64.8% during the remainder of 2026, 30.7% in 2027, and 4.5% in 2028. Warranty revenue is included in service and other revenue.

The Company recognized revenue of $0.4 million and $0.4 million during the three months ended June 30, 2026 and 2025, respectively, which was included in the contract liability balance at the end of the year preceding each period. The Company recognized revenue of $1.1 million and $1.0 million during the six months ended June 30, 2026 and 2025, respectively, which was included in the contract liability balance at the end of the year preceding each period.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Unaudited Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
us-gaap:NetIncomeLoss	$ (15,726)	$ (9,958)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	4,606	4,814
Amortization of financing lease right-of-use asset	102	102
Accretion of interest on securities	(303)	(491)
Non-cash lease expense	114	582
Gain on lease termination/modification	0	(450)
Stock-based compensation	1,640	2,667
Cost of leased equipment sold to customer	146	215
Change in fair value of convertible debentures	287	(5,250)
Disposal of property and equipment	34	258
Changes in operating assets and liabilities
Accounts receivable	834	1,257
Inventory	(29)	1,834
Prepaid expenses and other current assets	313	45
Other long-term assets	591	666
Accounts payable	(1,028)	(719)
Accrued expenses, contract liabilities, and lease liabilities, net	(1,967)	(1,823)
Net cash used in operating activities	(10,386)	(6,251)
Investing activities:
Purchase of available for sale securities	(80,131)	(116,642)
Sale and maturities of available for sale securities	99,269	104,555
Net cash provided by (used in) investing activities	19,138	(12,087)
Financing activities:
Principal payments of financing lease liability	(41)	(34)
Proceeds from sale of common stock and warrants	1,325	16,408
Offering expenses on sale of common stock and warrants	(54)	(1,023)
Proceeds from warrant and option exercises	0	9
Payments on convertible debentures	(10,266)	(3,000)
Net cash provided by (used in) financing activities	(9,036)	12,360
Effect of exchange rates on cash and cash equivalents and restricted cash	6	(33)
Net increase (decrease) in cash and cash equivalents and restricted cash	(278)	(6,011)
Cash and cash equivalents and restricted cash at beginning of period	4,509	9,573
Cash and cash equivalents and restricted cash at end of period	4,231	3,562
Reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the total amounts reported on the condensed consolidated statements of cash flows
Cash and cash equivalents	3,730	3,562
Restricted cash	501	0
Total cash and cash equivalents and restricted cash at end of period	4,231	3,562
Supplemental disclosure of cash flow information
Cash paid for interest	600	921
Cash paid for operating lease liabilities	341	1,348
Supplemental disclosure of non-cash financing and investing activity
Transfer of instruments and servers from inventory into property and equipment, net	275	654
Issuance of common stock for convertible debentures payable	0	350
Fees paid in common stock	0	1,584
Operating lease liabilities resulting from obtaining right-of-use assets	$ 0	$ 2,966

Unaudited Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2024		1,865,400
Beginning balance at Dec. 31, 2024	$ 35,375		$ 728,573	$ (693,225)	$ 27
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	1,587		1,587
Issue common stock and warrants, net of issuance costs (in shares)		934,000
Issue common stock and warrants, net of issuance costs	13,982		13,982
Issue stock for warrant exercises (in shares)		280,000
Issue stock for warrant exercises	9		9
Issuance of common stock for convertible debentures payable (in shares)		22,000
Issuance of common stock for convertible debentures payable	350		350
Net loss	(3,102)			(3,102)
Other comprehensive income (loss)	(13)				(13)
Ending balance (in shares) at Mar. 31, 2025		3,101,400
Ending balance at Mar. 31, 2025	48,188		744,501	(696,327)	14
Beginning balance (in shares) at Dec. 31, 2024		1,865,400
Beginning balance at Dec. 31, 2024	35,375		728,573	(693,225)	27
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(9,958)
Other comprehensive income (loss)	(37)
Ending balance (in shares) at Jun. 30, 2025		3,909,400
Ending balance at Jun. 30, 2025	45,374		748,568	(703,184)	(10)
Beginning balance (in shares) at Mar. 31, 2025		3,101,400
Beginning balance at Mar. 31, 2025	48,188		744,501	(696,327)	14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	1,080		1,080
Issue common stock and warrants, net of issuance costs (in shares)		807,000
Issue common stock and warrants, net of issuance costs	2,986		2,986
Issuance of common stock due to the vesting of restricted stock units, net of shares withheld to cover taxes (in shares)		1,000
Issuance of common stock due to the vesting of restricted stock units, net of shares withheld to cover taxes	1		1
Net loss	(6,857)			(6,857)
Other comprehensive income (loss)	(24)				(24)
Ending balance (in shares) at Jun. 30, 2025		3,909,400
Ending balance at Jun. 30, 2025	$ 45,374		748,568	(703,184)	(10)
Beginning balance (in shares) at Dec. 31, 2025	10,740,200	10,740,200
Beginning balance at Dec. 31, 2025	$ 44,424	$ 1	764,026	(719,620)	17
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	670		670
Issue common stock and warrants, net of issuance costs (in shares)		536,300
Issue common stock and warrants, net of issuance costs	677		677
Net loss	(8,303)			(8,303)
Other comprehensive income (loss)	(5)				(5)
Ending balance (in shares) at Mar. 31, 2026		11,276,500
Ending balance at Mar. 31, 2026	$ 37,463	$ 1	765,373	(727,923)	12
Beginning balance (in shares) at Dec. 31, 2025	10,740,200	10,740,200
Beginning balance at Dec. 31, 2025	$ 44,424	$ 1	764,026	(719,620)	17
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(15,726)
Other comprehensive income (loss)	$ (3)
Ending balance (in shares) at Jun. 30, 2026	11,777,300	11,777,300
Ending balance at Jun. 30, 2026	$ 31,606	$ 1	766,937	(735,346)	14
Beginning balance (in shares) at Mar. 31, 2026		11,276,500
Beginning balance at Mar. 31, 2026	37,463	$ 1	765,373	(727,923)	12
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	970		970
Issue common stock and warrants, net of issuance costs (in shares)		500,000
Issue common stock and warrants, net of issuance costs	594		594
Issuance of common stock due to the vesting of restricted stock units, net of shares withheld to cover taxes (in shares)		800
Net loss	(7,423)			(7,423)
Other comprehensive income (loss)	$ 2				2
Ending balance (in shares) at Jun. 30, 2026	11,777,300	11,777,300
Ending balance at Jun. 30, 2026	$ 31,606	$ 1	$ 766,937	$ (735,346)	$ 14

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2026	Dec. 31, 2025
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares outstanding (in shares)	0	0
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	11,777,300	10,740,200
Common stock, shares outstanding (in shares)	11,777,300	10,740,200

- Definition

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480100/505-10-S45-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 3
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(16)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

+ Details

- Definition

The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.

+ References + Details

- Definition

Number of shares issued for nonredeemable preferred shares and preferred shares redeemable solely at option of issuer. Includes, but is not limited to, preferred shares issued, repurchased, and held as treasury shares. Excludes preferred shares classified as debt.

+ References + Details

- Definition

Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section S45
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480100/505-10-S45-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Net Loss Per Share - Schedule of Potentially Dilutive Securities not Included in Calculation of Diluted Net Loss Per Share Attributable to Common Stockholders (Details) - shares	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	12,698,240	3,023,660
Common stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	616,000	190,000
Common warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	12,080,500	2,080,500
Convertible debentures
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	0	749,000
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	1,740	4,160

Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Revenues	$	8,171		$	6,733		$	14,858		$	13,190
Cost of revenue		3,857			3,256			7,292			6,774
Operating expenses
Salaries, wages, and benefits		6,189			5,471			11,951			11,293
Contracted services		2,146			2,400			4,292			5,079
Non-inventory materials		233			272			480			353
Consulting		344			302			517			815
Rent and facilities		639			562			1,370			1,134
Depreciation and amortization		1,692			1,811			3,404			3,641
Travel and entertainment		156			119			371			246
Administrative and other		133			340			296			117
Total operating expenses		11,532			11,277			22,681			22,678
Loss from operations	$	(7,218	)	$	(7,800	)	$	(15,115	)	$	(16,262	)

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

+ References

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+ Details

Organization and Basis of Presentation (Policies)	6 Months Ended
Organization and Basis of Presentation (Policies)	Jun. 30, 2026
Accounting Policies [Abstract]
Description of Business and Basis of Presentation	Description of Business Bionano Genomics, Inc. (collectively, with its consolidated subsidiaries, the “Company”) is a provider of genome analysis solutions that can enable researchers and clinicians to reveal answers to challenging questions in biology and medicine. The Company offers optical genome mapping (“OGM”) solutions, diagnostic services and software for applications across basic, translational and clinical research, and for other applications including bioprocessing. The Company offers a platform-agnostic software solution, which integrates next-generation sequencing, microarray and OGM data designed to provide analysis, visualization, interpretation and reporting of copy number variants, single-nucleotide variants and absence of heterozygosity across the genome in one consolidated view. The Company also offers nucleic acid extraction and purification solutions using proprietary isotachophoresis (“ITP”) technology. Through its wholly-owned subsidiary, Lineagen Inc. (doing business as Bionano Laboratories), the Company also provides OGM-based diagnostic testing services. Basis of Presentation The accompanying financial information has been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim reporting purposes. The condensed consolidated financial statements are unaudited. The unaudited condensed consolidated financial statements reflect, in the opinion of the Company’s management, all adjustments, consisting of only normal recurring adjustments, necessary for a fair presentation of financial position, results of operations, changes in equity, and comprehensive loss and cash flows for each period presented in accordance with United States generally accepted accounting principles (“U.S. GAAP”). All intercompany transactions and balances have been eliminated. The operating results presented in these unaudited interim condensed financial statements are not necessarily indicative of the results that may be expected for any future periods. These interim unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.
Liquidity and Going Concern	Liquidity and Going Concern The Company has experienced recurring net losses from operations, negative cash flows from operating activities, and a significant accumulated deficit since its inception and expects to continue to incur net losses into the foreseeable future. As of June 30, 2026, the Company had approximately $3.7 million in cash and cash equivalents, $6.2 million in short-term investments, $0.5 million in restricted cash and investments, and working capital of $14.8 million. The $0.5 million of restricted cash is included in an Irrevocable Standby Letter of Credit (“Letter of Credit”) set to expire on September 30, 2026. As of June 30, 2026, the Company had fully redeemed the outstanding principal balance under the Debentures (see Note 5 (Debt) to our unaudited condensed consolidated financial statements). During the six months ended June 30, 2026, the Company used $10.4 million of cash in operations and had an accumulated deficit of $735.3 million as of June 30, 2026. Management expects operating losses and negative cash flows to continue for at least the next year as the Company continues to incur costs related to product development and commercialization efforts. Management has prepared cash flows forecasts which indicate that based on the Company’s expected operating losses and negative cash flows, there is substantial doubt about the Company’s ability to continue as a going concern within twelve months after the date that the unaudited condensed consolidated financial statements for the six months ended June 30, 2026, are issued. Management’s ability to continue as a going concern is dependent upon its ability to raise additional funding. Management’s plans to raise additional capital to fulfill its operating and capital requirements for at least twelve months include public or private equity or debt financings. However, the Company may not be able to secure such financing in a timely manner or on favorable terms, if at all, and if the Company is unable to raise sufficient additional capital in the very near term, it may need to further curtail or cease operations and seek protection by filing a voluntary petition for relief under the United States Bankruptcy Code. Furthermore, if the Company issues equity securities to raise additional funds, its existing stockholders may experience dilution, and the new equity securities may have rights, preferences and privileges senior to those of the Company’s existing stockholders. The unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities in the normal course of business, and do not include any adjustments to reflect the outcome of this uncertainty.
Significant Accounting Policies	Significant Accounting Policies During the three and six months ended June 30, 2026, there were no material changes to the Company’s significant accounting policies as described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.
Restructuring Expenses	Restructuring Expenses The Company’s restructuring expense primarily consisted of actions taken in May and October 2023 (the “2023 Workforce Reductions”) and March and September 2024 (the “2024 Workforce Reductions”) in order to reduce costs and improve operations and manufacturing efficiency. Severance-related costs were accounted for as a one-time termination benefit communicated by period end without an additional service component, so the charge represented the total amount expected to be incurred. As a result of reducing facility costs and discretionary spending unrelated to headcount and combined with the cost savings from the 2023 Workforce Reductions and 2024 Workforce Reductions, such plans were intended to decrease expenses and maintain a streamlined organization to support the Company’s business. No restructuring charges were incurred during the three and six months ended June 30, 2026 and 2025.
Impairment of Long-Lived Assets (including Finite-Lived Intangible Assets)	Impairment of Long-Lived Assets (including Finite-Lived Intangible Assets) Long-lived assets are reviewed for impairment if indicators of potential impairment exist. If the Company identifies a change in the circumstances related to its long-lived assets, such as property and equipment and intangible assets, that indicates the carrying value of any such asset may not be recoverable, the Company will perform an impairment analysis. A long-lived asset is not recoverable when the undiscounted cash flows expected to be generated by the asset (or asset group) are less than the asset’s carrying amount. Any required impairment loss would be measured as the amount by which the asset’s carrying value exceeds its fair value, and would be recorded as a reduction in the carrying value of the related asset and a charge to operating expense. No impairment losses were recorded during the three and six months ended June 30, 2026 and 2025.
Inventories	Inventories The Company reviews its inventories for classification purposes. The value of inventories not expected to be realized in cash, sold or consumed during the next 12 months are classified as non-current within other long-term assets. As of June 30, 2026, $1.8 million of inventories were included in other long-term assets. As of June 30, 2026, the Company’s excess and obsolete inventory reserve balance was $2.8 million.
Loss on Disposal of Property and Equipment	Loss on disposal of property and equipment Loss on disposal of property and equipment includes the net book value of assets that have been abandoned or retired and consists primarily of our leasehold improvements, furniture, equipment and fixtures that were abandoned and disposed of in the normal course of business. The Company recorded an immaterial loss on disposal of property and equipment during the six months ended June 30, 2026 and a $0.3 million loss on disposal of property and equipment during the six months ended June 30, 2025.
Segment Reporting	Segment Reporting Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s CODM is its Interim Chief Executive Officer. The Company has determined it has one operating and reportable segment. Segment information is consistent with how management reviews the business, makes investing and resource allocation decisions and assesses operating performance. The Company’s measure of segment performance on a consolidated basis is consolidated net loss, which the CODM uses to allocate resources, after considering the Company’s strategic priorities, its cash balance, and its expected use of cash. In making resource allocation decisions, the CODM also evaluates budgeted results compared to actual performance. The measure of segment assets is reported on the unaudited condensed consolidated balance sheets as total assets. Refer to the unaudited condensed consolidated statements of operations and comprehensive loss for the Company’s measure of profit (loss). See also Note 9 (Segment Reporting) in the accompanying notes to the unaudited condensed consolidated financial statements.
Recently Issued Accounting Pronouncements and Recently Issued Tax Legislation	Recently Issued Accounting Pronouncements In November 2024, the FASB issued Accounting Standards Update (“ASU”) 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires additional disclosure about specific expense categories in the notes to financial statements. The amendments are effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The amendments should be applied either prospectively to financial statements issued for reporting periods after the effective date of this ASU or retrospectively to any or all prior periods presented in the financial statements. The Company is currently evaluating the impact of this accounting standard update on the Company’s consolidated financial statements and related disclosures. In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow Scope Improvements. This ASU will improve the navigability of required interim disclosures and clarify when that guidance is applicable, and will require entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. This ASU is effective for interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company will adopt the standard for the interim periods within the year ending December 31, 2028. The Company is currently evaluating the impact of this accounting standard update on the Company’s consolidated financial statements and related disclosures. In December 2025, the FASB issued ASU 2025-12, Codification Improvements. This ASU addresses suggestions received from stakeholders regarding the ASC and makes other incremental improvements to GAAP. The update represents changes to the ASC that clarify, correct errors in or make other improvements to a variety of topics that are intended to make it easier to understand and apply, including amendments to clarify the calculation of earnings per share when a loss from continuing operations exists. This ASU is effective for fiscal years beginning after December 15, 2026 and interim periods within those fiscal years, with early adoption permitted. Entities are required to apply the amendments to ASC 260 retrospectively. All other amendments may be applied prospectively or retrospectively. The Company is currently evaluating the impact of this accounting standard update on the Company’s consolidated financial statements and related disclosures. Recently Issued Tax Legislation On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act of 2017, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. The provisions of OBBBA did not have a material impact on the Company’s unaudited condensed consolidated financial statements for the three and six months ended June 30, 2026. The Company will continue to evaluate the impact of OBBBA provisions with future effective dates on the Company’s consolidated financial statements and related disclosures for the year ending December 31, 2026.

Organization and Basis of Presentation - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Jun. 30, 2026 USD ($) Segment	Jun. 30, 2025 USD ($)	Dec. 31, 2025 USD ($)
Debt Instrument [Line Items]
Cash and cash equivalents	$ 3,730,000	$ 3,562,000	$ 3,730,000	$ 3,562,000	$ 2,990,000
Investments	6,189,000		6,189,000		16,279,000
Restricted cash and cash equivalents and restricted short-term investments	500,000		500,000		10,300,000
Working capital	14,800,000		14,800,000
Inventory Valuation Reserves	2,800,000		2,800,000
Disposal of property and equipment			34,000	258,000
Other long-term assets	7,015,000		7,015,000		7,828,000
Accumulated deficit	735,346,000		735,346,000		$ 719,620,000
Net cash used in operating activities			10,386,000	6,251,000
Impairment of Intangible Assets (Excluding Goodwill)	$ 0	$ 0	$ 0	$ 0
Intangible Asset, Excluding Goodwill, Impairment Loss, Statement of Income or Comprehensive Income [Extensible Enumeration]	Asset, Impairment Loss	Asset, Impairment Loss	Asset, Impairment Loss	Asset, Impairment Loss
Number of operating segments \| Segment			1
Number of reportable segments \| Segment			1
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]			srt:ChiefExecutiveOfficerMember
Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsNoncurrent
Debt Instrument [Line Items]
Other long-term assets	$ 1,800,000		$ 1,800,000

Unaudited Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Comprehensive Income [Abstract]
Net Loss:	$ (7,423)	$ (6,857)	$ (15,726)	$ (9,958)
Other comprehensive income (loss):
Unrealized gain (loss) on investment securities	1	(1)	(2)	(4)
Foreign currency translation adjustments	1	(23)	(1)	(33)
Other comprehensive income (loss)	2	(24)	(3)	(37)
Total comprehensive loss	$ (7,421)	$ (6,881)	$ (15,729)	$ (9,995)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- 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

Balance Sheet Account Details - Schedule of Allowance for Credit Losses (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ (18)	$ (157)
Provision for expected credit loss	0	0
Write-offs	0	49
Ending balance	$ (18)	$ (108)

Segment Reporting - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Segment Reporting [Line Items]
Revenues	$ 8,171	$ 6,733	$ 14,858	$ 13,190
Cost of revenue	3,857	3,256	7,292	6,774
Operating expenses:
Depreciation and amortization			4,606	4,814
Loss from operations	(7,218)	(7,800)	(15,115)	(16,262)
Reportable Segment
Segment Reporting [Line Items]
Revenues	8,171	6,733	14,858	13,190
Cost of revenue	3,857	3,256	7,292	6,774
Operating expenses:
Salaries, wages, and benefits	6,189	5,471	11,951	11,293
Contracted services	2,146	2,400	4,292	5,079
Non-inventory materials	233	272	480	353
Consulting	344	302	517	815
Rent and facilities	639	562	1,370	1,134
Depreciation and amortization	1,692	1,811	3,404	3,641
Travel and entertainment	156	119	371	246
Administrative and other	133	340	296	117
Total operating expenses	11,532	11,277	22,681	22,678
Loss from operations	$ (7,218)	$ (7,800)	$ (15,115)	$ (16,262)

Balance Sheet Account Details (Tables)

6 Months Ended

Jun. 30, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Accounts Receivable

Accounts Receivable and Allowance for Credit Losses (in thousands)


	June 30, 2026			December 31, 2025			December 31, 2024
Accounts receivable, net:
Accounts receivable, trade	$	4,384		$	5,218		$	4,909
Less allowance for credit losses		(18	)		(18	)		(157	)
Total accounts receivable, net	$	4,366		$	5,200		$	4,752

Schedule of Allowance for Credit Losses

Changes to the allowance for credit losses during the six months ended June 30, 2026 and 2025 were as follows (in thousands):


	Allowance for Credit Losses
Balance as of January 1, 2025	$	(157	)
Provision for expected credit loss		—
Write-offs		49
Balance as of June 30, 2025		(108	)

Balance as of January 1, 2026		(18	)
Provision for expected credit loss		—
Write-offs		—
Balance as of June 30, 2026	$	(18	)

Schedule of Components of Inventories

The components of inventories, net of reserve, are as follows (in thousands):


	June 30,		December 31,
	2026		2025
Inventory:
Raw materials	$	5,289	$	5,539
Work in process		170		663
Finished goods		1,556		1,626
Total inventory	$	7,015	$	7,828
Inventories current	$	5,202	$	5,448
Inventories non-current (included in other long-term assets)	$	1,813	$	2,380

Schedule of Property and Equipment, Net

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


	June 30, 2026			December 31, 2025
Computer and office equipment	$	2,200		$	2,707
Lab equipment		14,674			14,846
Service equipment placed at customer sites		22,765			22,608
Leasehold improvements		2,506			2,886
Total property and equipment, gross		42,145			43,047
Less accumulated depreciation and amortization		(29,128	)		(28,200	)
Total property and equipment, net	$	13,017		$	14,847

Schedule of Intangible Assets

Intangible assets that are subject to amortization consisted of the following at June 30, 2026 and December 31, 2025 (in thousands):


	June 30, 2026							December 31, 2025
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Trade name	$	1,000	$	(942	)	$	58	$	1,000	$	(842	)	$	158
Customer relationships		3,000		(2,825	)		175		3,000		(2,525	)		475
Developed technology		22,800		(21,470	)		1,330		22,800		(19,190	)		3,610
Intangibles, net	$	26,800	$	(25,237	)	$	1,563	$	26,800	$	(22,557	)	$	4,243

Schedule of Accrued Expenses

Accrued expenses consist of the following (in thousands):


	June 30, 2026		December 31, 2025
Compensation expenses	$	2,201	$	3,537
Taxes payable		162		272
Insurance		16		502
Professional fees and royalties		66		89
Warranty liabilities		595		561
Other		416		499
Total	$	3,456	$	5,460