7Baggers

Guardant Health
(NASDAQ:GH) 

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Guardant Health, Inc., a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers Guardant360, Guardant360 CDx, and GuardantOMNI liquid biopsy-based tests for advanced stage cancer; and GuardantINFORM, an in-silico resear...

Founded: 2013
IPO Price: $19 (Oct 04, 2018)
Full Time Employees: 1,728 (Dec 2022)
CEO / Co-Founder: Helmy Eltoukhy 
Sector: Healthcare
Industry: Diagnostics & Research
PharmaceuticalsGeneticsCancer Detection
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At a glance:
  • Leader in Liquid Biopsy for Oncology: Guardant Health specializes in developing and commercializing advanced liquid biopsy tests for cancer detection, recurrence monitoring, and guiding treatment decisions across various stages of the disease.
  • Comprehensive Product Suite for Cancer Management: Key products include Guardant360 for advanced cancer, Guardant Reveal for recurrence monitoring, and Shield, a multi-cancer early detection test currently in development and commercialization phases.
  • Significant Investment in Innovation and Market Expansion: The company consistently invests heavily in research & development and sales & marketing, often resulting in negative free cash flow as it prioritizes scaling its technology and expanding market penetration for new products.
  • Shield's Early Detection Potential as a Major Growth Driver: A primary focus and potential long-term catalyst for Guardant Health is the successful commercialization and broad adoption of its Shield test for multi-cancer early detection, targeting a massive untapped market.
Bull Thesis:
  • Expanding Market Opportunity with Early Detection (Shield): Guardant Health's entry into the early cancer detection market with its Shield test represents a massive potential increase in its total addressable market (TAM). Successful adoption and reimbursement of Shield could unlock significant long-term revenue growth beyond its current advanced cancer offerings.
  • Strong Clinical Validation and Reimbursement Progress: The company continues to publish robust clinical data supporting the efficacy and utility of its tests, particularly Guardant360. Ongoing progress in securing positive coverage decisions from Medicare and private payers for its existing and pipeline products is crucial for commercial scale and adoption.
  • Established Leadership in Advanced Cancer Liquid Biopsy: Guardant Health maintains a strong position in the advanced cancer liquid biopsy market with Guardant360, which is widely adopted for treatment selection and monitoring. This established base provides a stable revenue stream and brand recognition, supporting further expansion.
  • Strategic Partnerships and Pharma Collaborations: Guardant Health's collaborations with pharmaceutical companies for companion diagnostics and clinical trial support not only provide additional revenue streams but also validate its technology and expand its reach within the oncology ecosystem.
Bear Thesis:
  • Intense Competitive Landscape: The liquid biopsy market, especially for early cancer detection, is highly competitive with well-funded players like Exact Sciences, Illumina (Grail), Freenome, and Natera. This intense competition could lead to pricing pressure, market share erosion, and increased R&D/marketing expenses.
  • Slow Path to Profitability and High Cash Burn: Despite revenue growth, Guardant Health continues to report significant operating losses and negative free cash flow due to high R&D, sales, and marketing expenses. The path to sustainable profitability remains uncertain, potentially requiring further capital raises or impacting investor confidence.
  • Uncertainty and Payer Adoption for Early Detection (Shield): While Shield offers significant potential, the timeline and extent of broad payer reimbursement and clinical adoption for population-level early cancer screening remain uncertain. Demonstrating clear clinical utility and cost-effectiveness to payers is a high bar and could take longer than anticipated.
  • Regulatory and Clinical Hurdles for Novel Diagnostics: Developing and commercializing novel diagnostic tests, particularly for early cancer detection, involves navigating complex regulatory pathways (e.g., FDA approval) and demonstrating robust clinical utility in large-scale studies. Delays or setbacks in these areas could significantly impact product launches and market access.
Main Competitors:
  • Exact Sciences ($EXAS) (Cologuard, Oncotype DX, OncoEx, Thrive CancerSEEK), Exact Sciences competes across multiple segments. While Cologuard is for colon cancer screening (a different modality), their acquisition of Thrive Earlier Detection (CancerSEEK) directly positions them against Guardant Shield in multi-cancer early detection (MCED). They also offer OncoEx for advanced cancer profiling, competing with Guardant360, and are expanding their liquid biopsy offerings for minimal residual disease (MRD).
  • Natera ($NTRA) (Signatera), Natera is a direct and significant competitor in the minimal residual disease (MRD) testing space with its Signatera platform. Signatera competes head-to-head with Guardant Reveal for detecting residual disease and monitoring recurrence across various cancer types, leveraging personalized and tumor-informed assays.
  • Illumina (GRAIL) ($ILMN) (Galleri), Illumina's subsidiary GRAIL is a primary competitor in the multi-cancer early detection (MCED) market with its Galleri test. Galleri directly competes with Guardant Shield (LUNAR-2 program) for the potential to screen asymptomatic individuals for multiple cancers using a single blood draw, representing a massive future market.
  • Foundation Medicine (Roche) ($RHHBY) (FoundationOne Liquid CDx, FoundationOne CDx), A subsidiary of Roche, Foundation Medicine offers comprehensive genomic profiling for cancer patients. FoundationOne Liquid CDx directly competes with Guardant360 for treatment selection and monitoring in advanced cancer patients, providing insights into actionable mutations from a liquid biopsy. They also offer tissue-based profiling.
  • Tempus ($TEM) (Comprehensive Genomic Profiling (liquid and tissue), AI-driven analytics), Tempus provides comprehensive genomic profiling services, including both liquid and tissue biopsies, which compete with Guardant360 for treatment selection. Their competitive edge also lies in their extensive real-world data platform and AI capabilities, which aim to provide more personalized insights and accelerate drug discovery.
Moat:
Guardant Health operates in a highly competitive and rapidly evolving precision oncology market, primarily focused on liquid biopsies. Its main moat stems from its proprietary ultra-sensitive technology, extensive clinical validation and real-world data supporting its assays (e.g., Guardant360, Guardant Reveal, Guardant Shield), and a strong intellectual property portfolio. Guardant also benefits from a first-mover advantage and established relationships in the advanced cancer liquid biopsy space. Competition is fierce across all its key segments: for treatment selection and monitoring (e.g., Foundation Medicine, Tempus), for minimal residual disease (MRD) detection (e.g., Natera), and especially in the nascent but potentially massive multi-cancer early detection (MCED) market (e.g., Exact Sciences' Thrive, Illumina's GRAIL). Success in this landscape is driven by continued innovation, robust clinical evidence for utility and reimbursement, and strategic partnerships to expand market access and adoption.
Income Statements:
Quarterly
Annual
    Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 
                                   
      total revenue
    		301,665,000 281,266,000 265,196,000 232,088,000 203,471,000 201,814,000 191,476,000 177,235,000 168,491,000 155,054,000 143,030,000 137,150,000 128,714,000 126,891,000 117,404,000 109,144,000 96,099,000 108,108,000 94,779,000 92,101,000 78,665,000 78,316,000 74,569,000 66,335,000 67,510,000 62,897,000 60,848,000 53,975,000 36,655,000 32,873,000 21,692,000 
      yoy
    		48.26% 39.37% 38.50% 30.95% 20.76% 30.16% 33.87% 29.23% 30.90% 22.19% 21.83% 25.66% 33.94% 17.37% 23.87% 18.50% 22.16% 38.04% 27.10% 38.84% 16.52% 24.51% 22.55% 22.90% 84.18% 91.33% 180.51%     
      qoq
    		7.25% 6.06% 14.27% 14.06% 0.82% 5.40% 8.04% 5.19% 8.67% 8.41% 4.29% 6.55% 1.44% 8.08% 7.57% 13.57% -11.11% 14.06% 2.91% 17.08% 0.45% 5.02% 12.41% -1.74% 7.33% 3.37% 12.73% 47.25% 11.50% 51.54%  
      costs and operating expenses:
    		                               
      cost of revenue
    		104,919,000 99,492,000 93,587,000 81,205,000 74,723,000                           
      research and development expense
    		91,038,000 98,264,000 89,957,000 87,449,000 88,521,000 93,543,000 87,306,000 83,102,000 83,802,000 89,856,000 93,851,000 90,359,000 93,128,000 106,578,000 100,017,000 85,455,000 81,757,000 73,021,000 70,968,000 63,724,000 55,508,000 40,282,000 36,245,000 36,319,000 37,016,000 25,875,000 24,569,000 19,532,000 16,316,000 16,652,000 14,253,000 
      sales and marketing expense
    		169,132,000 143,382,000 127,375,000 119,588,000 104,316,000 104,763,000 97,880,000 81,867,000 80,425,000 79,127,000 68,934,000 71,043,000 76,123,000 81,423,000 80,370,000 73,603,000 64,432,000 59,599,000 50,228,000 47,716,000 34,338,000 31,288,000 25,095,000 25,015,000 25,115,000 22,287,000 18,802,000 19,439,000 17,807,000 17,114,000 13,464,000 
      general and administrative expense
    		57,926,000 60,933,000 53,266,000 50,259,000 46,952,000 51,880,000 49,129,000 40,463,000 38,651,000 37,665,000 36,174,000 41,516,000 40,445,000 37,888,000 41,121,000 43,680,000 41,267,000 40,274,000 50,055,000 48,376,000 67,935,000 69,505,000 66,294,000 37,186,000 19,785,000 18,859,000 16,440,000 13,439,000 12,661,000 12,547,000 8,129,000 
      total costs and operating expenses
    		423,015,000 402,071,000 364,185,000 338,501,000 314,512,000 327,779,000 308,804,000 277,853,000 268,174,000 352,565,000 256,573,000 256,766,000 262,769,000 273,010,000 262,004,000 239,465,000 219,437,000 206,316,000 202,067,000 189,743,000 186,528,000 169,482,000 148,821,000 120,955,000 102,422,000 88,859,000 78,325,000 69,243,000 60,319,000 60,260,000 45,897,000 
      income from operations
    		-121,350,000 -120,805,000 -98,989,000 -106,413,000 -111,041,000 -125,965,000 -117,328,000 -100,618,000 -99,683,000 -197,511,000 -113,543,000 -119,616,000 -134,055,000 -146,119,000 -144,600,000 -130,321,000 -123,338,000 -98,208,000 -107,288,000 -97,642,000 -107,863,000 -91,166,000 -74,252,000 -54,620,000 -34,912,000 -25,962,000 -17,477,000 -15,268,000 -23,664,000 -27,387,000 -24,205,000 
      yoy
    		9.28% -4.10% -15.63% 5.76% 11.39% -36.22% 3.33% -15.88% -25.64% 35.17% -21.48% -8.21% 8.69% 48.79% 34.78% 33.47% 14.35% 7.72% 44.49% 78.77% 208.96% 251.15% 324.86% 257.74% 47.53% -5.20% -27.80%     
      qoq
    		0.45% 22.04% -6.98% -4.17% -11.85% 7.36% 16.61% 0.94% -49.53% 73.95% -5.08% -10.77% -8.26% 1.05% 10.96% 5.66% 25.59% -8.46% 9.88% -9.48% 18.31% 22.78% 35.94% 56.45% 34.47% 48.55% 14.47% -35.48% -13.59% 13.15%  
      operating margin %
    		-40.23% -42.95% -37.33% -45.85% -54.57% -62.42% -61.28% -56.77% -59.16% -127.38% -79.38% -87.22% -104.15% -115.15% -123.16% -119.40% -128.34% -90.84% -113.20% -106.02% -137.12% -116.41% -99.57% -82.34% -51.71% -41.28% -28.72% -28.29% -64.56% -83.31% -111.58% 
      interest income
    		11,151,000 10,032,000 7,391,000 7,560,000 9,112,000 11,653,000 13,257,000 13,913,000 14,868,000 13,888,000 11,690,000 6,727,000 3,060,000 2,150,000 1,754,000 1,387,000 778,000 653,000 689,000 1,037,000 1,551,000 1,900,000 2,313,000 2,640,000 3,318,000 3,871,000 4,286,000 3,099,000 2,485,000 2,334,000 958,000 
      interest expense
    		-1,347,000 -1,180,000 -943,000 -983,000 -791,000 -645,000 -646,000 -645,000 -645,000 -645,000 -644,000 -645,000 -644,000 -644,000 -644,000 -645,000 -644,000 -643,000 -644,000 -644,000 -646,000 -4,736,000 -8,000 -10,000 -12,000 -321,000 -280,000 -287,000 -293,000 -299,000 -304,000 
      other income
    		-157,000 -18,268,000 -48,000 -25,000 7,851,000 4,667,000 -3,007,000 -15,145,000 -29,120,000 -3,316,000 16,885,000 41,259,000 -1,654,000 5,281,000 -18,389,000 378,000 -48,000 25,898,000 -187,000 -243,000  1,220,000 345,000 2,285,000 -209,000 -187,000 179,000 -51,000 147,000 115,000 43,000 
      income before provision for income taxes
    		-111,703,000 -130,221,000 -92,589,000 -99,861,000 -94,869,000 -110,290,000 -107,724,000 -102,495,000 -114,580,000 -187,584,000 -85,612,000 -72,275,000 -133,293,000 -139,332,000 -161,879,000 -228,986,000 -123,252,000 -72,300,000 -107,430,000 -97,492,000 -107,248,000 -92,782,000 -71,602,000 -49,705,000 -31,815,000 -22,599,000 -13,292,000 -12,507,000 -21,325,000 -25,237,000 -23,508,000 
      provision for income taxes
    		372,000 -1,727,000 136,000 38,000 290,000 716,000 30,000 133,000 405,000 -541,000 490,000 496,000 240,000 602,000 115,000 446,000 -24,000 11,000 96,000 83,000 110,000 263,000 68,000 34,000 14,000 -489,000 -202,000 -1,207,000 26,000 35,000  
      net income
    		-112,075,000 -128,494,000 -92,725,000 -99,899,000 -95,159,000 -111,006,000 -107,754,000 -102,628,000 -114,985,000 -187,043,000 -86,102,000 -72,771,000 -133,533,000 -139,934,000 -161,994,000 -229,432,000 -123,228,000 -72,311,000 -107,526,000 -97,575,000 -107,358,000 -93,045,000 -71,670,000 -49,739,000 -31,829,000 -22,110,000 -13,090,000 -11,300,000 -21,351,000 -25,272,000 -23,508,000 
      yoy
    		17.78% 15.75% -13.95% -2.66% -17.24% -40.65% 25.15% 41.03% -13.89% 33.67% -46.85% -68.28% 8.36% 93.52% 50.66% 135.13% 14.78% -22.28% 50.03% 96.17% 237.30% 320.83% 447.52% 340.17% 49.07% -12.51% -44.32%     
      qoq
    		-12.78% 38.58% -7.18% 4.98% -14.28% 3.02% 4.99% -10.75% -38.52% 117.23% 18.32% -45.50% -4.57% -13.62% -29.39% 86.18% 70.41% -32.75% 10.20% -9.11% 15.38% 29.82% 44.09% 56.27% 43.96% 68.91% 15.84% -47.08% -15.52% 7.50%  
      net income margin %
    		-37.15% -45.68% -34.96% -43.04% -46.77% -55.00% -56.28% -57.91% -68.24% -120.63% -60.20% -53.06% -103.74% -110.28% -137.98% -210.21% -128.23% -66.89% -113.45% -105.94% -136.47% -118.81% -96.11% -74.98% -47.15% -35.15% -21.51% -20.94% -58.25% -76.88% -108.37% 
      net income per share
    		-0.85 -1 -0.74 -0.8 -0.77 -0.9 -0.88 -0.84 -0.94 -1.62 -0.73 -0.67 -1.3 -1.37 -1.58 -2.25 -1.21 -0.89 -1.06 -0.96 -1.09 -0.94 -0.78 -0.57 -0.29 -0.28 -0.14 -0.13 -0.3 2.07 -1.94 
      weighted-average shares used for eps calculation
    		131,273 125,374 124,807 124,114 123,871 122,745 123,051 122,447 121,712 111,988 117,736 108,808 102,663 102,178 102,289 102,047 101,853 101,314 101,420 101,172 100,955 97,504 99,554 96,011 94,382 90,597 93,303 89,036 85,935 30,403 12,582 
      revenue:
    		                               
      precision oncology testing
    		     184,585,000 180,604,000 166,518,000 156,229,000 142,189,000 133,423,000 125,244,000 113,393,000 113,797,000 102,054,000 92,062,000 84,136,000 88,707,000 79,272,000 72,604,000 63,729,000 64,703,000 60,384,000 50,991,000 60,246,000 57,414,000 52,147,000 42,064,000 28,837,000 28,096,000 18,298,000 
      development services and other
    		     17,229,000 10,872,000 10,717,000 12,262,000 12,865,000 9,607,000 11,906,000 15,321,000 13,094,000 15,350,000 17,082,000 11,963,000 19,401,000 15,507,000 19,497,000 14,936,000 13,613,000 14,185,000         
      cost of precision oncology testing
    		     69,465,000 66,095,000 65,715,000 59,306,000 57,417,000 53,648,000 49,357,000 45,106,000 43,706,000 39,434,000 34,375,000 30,684,000 32,254,000 29,665,000 24,887,000 23,590,000 22,070,000 16,699,000 17,809,000 18,191,000 20,004,000 16,578,000 14,650,000 11,023,000 12,624,000 9,671,000 
      cost of development services and other
    		     8,128,000 8,394,000 6,706,000 5,990,000 5,100,000 3,966,000 4,491,000 7,967,000 3,415,000 1,062,000 2,352,000 1,297,000 1,168,000 1,151,000 5,040,000 5,157,000 6,337,000 4,488,000 4,626,000 2,315,000 1,834,000 1,936,000 2,183,000 2,512,000 1,323,000 380,000 
      fair value adjustments of noncontrolling interest liability
    		               -99,785,000                
      adjustment of redeemable noncontrolling interest
    		                 -18,600,000   -2,300,000 -700,000 -6,000,000 -4,900,000 4,100,000       
      net loss attributable to guardant health, inc. common stockholders
    		             -139,934,000 -161,994,000 -229,432,000 -123,228,000 -90,911,000 -107,526,000 -97,575,000 -109,658,000 -93,745,000 -77,670,000 -54,639,000 -27,729,000 -25,210,000 -12,790,000 -11,600,000 -26,051,000 -25,122,000 -24,458,000 
      other expense
    		                    -290,000           
      development services
    		                       15,344,000 7,264,000 5,483,000 8,701,000 11,911,000 7,818,000 4,777,000 3,394,000 
      fair value adjustment of redeemable noncontrolling interest
    		                         -1,175,000 300,000 -300,000 -4,700,000 150,000 -950,000 
      loss on debt extinguishment
    		                               
      net loss attributable to guardant health, inc.
    		                             -25,122,000 -24,458,000 
      deemed dividend related to repurchase of series a convertible preferred stock
    		                               
      deemed dividend related to change in conversion rate of series d convertible preferred stock
    		                               
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 
                                     
        assets
      		                               
        current assets:
      		                               
        cash and cash equivalents
      		989,291,000 378,203,000 580,013,000 629,143,000 698,572,000 525,540,000 688,368,000 1,035,239,000 1,129,257,000 1,133,537,000 457,339,000 271,073,000 223,640,000 141,647,000 158,310,000 215,169,000 573,604,000 492,202,000 832,370,000 938,590,000 869,372,000 832,977,000 142,945,000 164,671,000 152,239,000 143,228,000 147,188,000 174,653,000 153,790,000 140,544,000 113,957,000 
        short-term marketable securities
      		113,469,000 823,395,000    314,438,000 310,701,000   35,097,000 697,482,000 953,776,000 713,380,000 869,584,000 799,727,000 638,521,000 388,662,000 440,546,000 653,601,000 853,072,000 1,071,078,000 961,903,000 870,459,000 773,160,000 367,853,000 379,574,000 375,768,000 370,974,000 313,069,000 278,417,000 157,385,000 
        accounts receivable
      		137,404,000 137,849,000 115,585,000 130,252,000 115,426,000 110,253,000 88,465,000 100,519,000 84,562,000 88,783,000 88,801,000 86,468,000 87,204,000 97,256,000 86,200,000 95,276,000 84,331,000 97,652,000 60,744,000 53,667,000 48,039,000 53,299,000 36,255,000 41,017,000 48,015,000 47,986,000 39,689,000 40,363,000 28,989,000 35,690,000 14,640,000 
        inventory
      		83,851,000 85,876,000 90,489,000 84,061,000 77,256,000 71,083,000 72,298,000 66,984,000 62,991,000 61,948,000 77,036,000 60,529,000 46,474,000 51,598,000 63,047,000 59,890,000 36,613,000 30,674,000 24,739,000 26,494,000 28,876,000 22,716,000 27,731,000 20,354,000 25,148,000 15,181,000 14,760,000 14,176,000 10,256,000 9,136,000 7,075,000 
        prepaid expenses and other current assets
      		43,490,000 40,723,000 42,798,000 39,976,000 35,772,000 33,800,000 66,883,000 87,232,000 31,736,000 27,741,000 26,239,000 25,809,000 33,762,000 31,509,000 23,565,000 28,283,000 30,070,000 53,052,000 21,958,000 19,236,000 15,679,000 17,466,000 9,898,000 11,101,000 14,137,000 11,389,000 5,657,000 4,082,000 6,151,000 5,204,000 4,024,000 
        total current assets
      		1,367,505,000 1,466,046,000 828,885,000 883,432,000 927,026,000 1,055,114,000 1,226,715,000 1,289,974,000 1,308,546,000 1,347,106,000 1,346,897,000 1,397,655,000 1,104,460,000 1,191,594,000 1,130,849,000 1,037,139,000 1,113,280,000 1,114,126,000 1,593,412,000 1,891,059,000 2,033,044,000 1,888,361,000 1,087,288,000 1,010,303,000 607,392,000 597,358,000 583,062,000 604,248,000 512,255,000 468,991,000 297,081,000 
        restricted cash
      		112,150,000 111,214,000 109,502,000 106,337,000 105,281,000 104,215,000                          
        property and equipment
      		150,035,000 145,915,000 124,609,000 126,141,000 129,294,000 136,813,000 125,169,000 132,317,000 138,387,000 145,096,000 147,671,000 155,741,000 163,229,000 167,920,000 168,007,000 163,362,000 151,322,000 124,461,000 106,156,000 89,737,000 71,765,000 62,782,000 61,882,000 56,995,000 46,685,000 43,668,000 40,759,000 34,811,000 30,581,000 31,003,000 30,318,000 
        right-of-use assets
      		153,906,000 158,849,000 163,550,000 169,768,000 140,500,000 142,265,000 144,964,000 146,111,000 151,881,000 157,616,000 161,668,000 165,273,000 170,651,000 174,001,000 178,747,000 183,703,000 188,607,000 189,443,000 196,436,000 200,958,000 205,671,000 37,343,000 36,103,000 38,503,000 30,132,000 29,140,000      
        intangible assets
      		25,543,000 25,921,000 5,477,000 5,864,000 6,280,000 6,760,000 7,251,000 7,742,000 8,294,000 8,979,000 9,670,000 10,361,000 11,047,000 11,727,000 12,417,000 13,108,000 13,727,000 14,207,000 14,698,000 15,189,000 15,674,000 16,155,000 16,645,000 17,148,000 17,681,000 8,524,000 8,755,000 8,987,000    
        goodwill
      		77,257,000 77,257,000 3,290,000 3,290,000 3,290,000 3,290,000 3,290,000 3,290,000 3,290,000 3,290,000 3,290,000 3,290,000 3,290,000 3,290,000 3,290,000 3,290,000 3,290,000 3,290,000 3,290,000 3,290,000 3,290,000 3,290,000 3,290,000 3,290,000 3,290,000 3,290,000 2,928,000 2,935,000    
        other assets
      		28,895,000 28,457,000 41,473,000 37,167,000 32,555,000 37,152,000 31,338,000 29,906,000 94,200,000 124,334,000 128,035,000 107,697,000 58,954,000 61,453,000 51,728,000 70,560,000 70,919,000 60,938,000 61,316,000 36,284,000 17,297,000 17,208,000 5,453,000 5,124,000 4,721,000 4,882,000 3,073,000 3,159,000 2,862,000 2,046,000 1,936,000 
        total assets
      		1,915,291,000 2,013,659,000 1,276,786,000 1,331,999,000 1,344,226,000 1,485,609,000 1,538,727,000 1,609,340,000 1,704,598,000 1,786,421,000 1,797,231,000 1,840,017,000 1,511,631,000 1,609,985,000 1,701,779,000 1,853,737,000 2,129,598,000 2,204,499,000 2,225,534,000 2,291,885,000 2,346,741,000 2,271,781,000 1,262,109,000 1,277,536,000 948,167,000 962,535,000 948,334,000 939,989,000 579,171,000 587,403,000 344,599,000 
        liabilities and stockholders’ deficit
      		                               
        current liabilities:
      		                               
        accounts payable
      		75,034,000 54,442,000 20,142,000 44,802,000 49,770,000 38,551,000 15,473,000 42,447,000 37,603,000      40,911,000 36,971,000 32,230,000 17,580,000 15,674,000 21,399,000 22,318,000 7,340,000 18,281,000 15,982,000 24,378,000 16,197,000 12,054,000 15,700,000 7,163,000 10,642,000 13,081,000 
        accrued compensation
      		91,326,000 119,646,000 98,209,000 68,262,000 63,678,000 83,219,000 80,647,000 59,067,000 92,639,000      57,423,000 38,672,000 56,158,000 42,496,000 38,838,000 34,735,000 37,180,000 28,280,000 24,037,000 18,526,000 22,935,000 18,557,000 24,604,000 13,687,000 14,683,000 12,986,000 7,430,000 
        accrued expenses
      		78,013,000 77,889,000 71,707,000 71,011,000 76,003,000 68,345,000 71,671,000 70,680,000 67,211,000      63,367,000 77,157,000 51,851,000 45,285,000 40,475,000 31,998,000 27,643,000 22,639,000 22,312,000 24,055,000 23,073,000 25,703,000 17,239,000 11,092,000 9,137,000 7,081,000 7,482,000 
        deferred revenue
      		47,772,000 50,753,000 46,861,000 54,355,000 36,302,000 35,468,000 29,554,000 29,375,000 22,556,000 17,965,000 21,485,000 12,237,000 13,621,000 17,403,000 13,423,000 14,955,000 10,570,000 11,326,000 7,317,000 8,480,000 8,360,000 8,550,000 7,337,000 11,485,000 11,936,000 12,277,000 13,095,000 16,496,000 17,113,000 16,138,000 3,955,000 
        total current liabilities
      		292,145,000 302,730,000 236,919,000 238,430,000 225,753,000 225,583,000 197,345,000 201,569,000 220,009,000 205,917,000 226,751,000 200,933,000 204,155,000 193,220,000 175,124,000 167,755,000 228,809,000 194,687,000 102,304,000 96,612,000 95,501,000 66,809,000 71,967,000 70,048,000 82,322,000 72,734,000 67,817,000 57,049,000 48,192,000 46,944,000 32,050,000 
        convertible senior notes
      		1,503,471,000 1,504,000,000    1,142,547,000 1,141,901,000 1,141,256,000 1,140,611,000 1,139,966,000 1,139,322,000 1,138,678,000 1,138,034,000 1,137,391,000 1,136,748,000 1,136,105,000 1,135,463,000 1,134,821,000 1,134,180,000 1,133,539,000 1,132,899,000 806,292,000          
        long-term operating lease liabilities
      		173,055,000 178,463,000 185,387,000 192,348,000 160,378,000 164,292,000 170,131,000 172,194,000 178,907,000 185,848,000 192,677,000 198,230,000 204,857,000 210,015,000 216,174,000 221,503,000 225,377,000 226,053,000 216,806,000 211,783,000 210,244,000 41,565,000 39,682,000 41,117,000 33,773,000 33,256,000      
        other long-term liabilities
      		127,693,000 127,773,000 94,359,000 91,170,000 92,545,000 92,834,000 89,446,000 95,934,000 96,786,000 96,006,000 10,182,000 9,450,000 9,136,000 9,179,000 6,988,000 9,287,000 6,909,000 3,933,000 3,424,000 2,486,000 1,651,000 1,520,000 1,856,000 1,382,000 1,459,000 1,672,000 1,220,000 1,303,000 150,000 206,000 206,000 
        total liabilities
      		2,096,364,000 2,112,966,000 1,631,259,000 1,637,474,000 1,595,015,000 1,625,256,000 1,598,823,000 1,610,953,000 1,636,313,000 1,627,737,000 1,568,932,000 1,547,291,000 1,556,182,000 1,549,805,000 1,535,034,000 1,534,650,000 1,596,558,000 1,559,494,000 1,456,714,000 1,444,420,000 1,440,295,000 916,186,000 113,505,000 112,547,000 117,554,000 114,542,000 86,438,000 77,715,000 64,537,000 62,451,000 47,462,000 
        commitments and contingencies
      		                               
        stockholders’ deficit:
      		                               
        preferred stock, par value of 0.00001 per share; 10,000,000 shares authorized, no shares issued and outstanding as of march 31, 2026 and december 31, 2025
      		                               
        common stock
      		1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000  1,000 1,000 1,000  1,000 1,000 1,000  1,000 1,000 1,000    1,000   
        additional paid-in capital
      		2,930,665,000 2,900,056,000 2,560,814,000 2,516,550,000 2,472,272,000 2,443,788,000 2,410,416,000 2,363,501,000 2,329,930,000 2,304,220,000 2,188,797,000 2,169,911,000 1,763,544,000  1,716,075,000 1,703,832,000 1,682,406,000  1,626,926,000 1,597,419,000 1,557,954,000  1,601,188,000 1,544,373,000 1,157,945,000    771,009,000   
        accumulated other comprehensive loss
      		-5,152,000 -4,852,000 -4,260,000 -3,723,000 -4,658,000 -5,201,000 -3,284,000 -5,640,000 -4,799,000 -3,675,000 -5,680,000 -8,469,000 -12,150,000  -26,852,000 -24,261,000 -18,314,000            333,000   
        accumulated deficit
      		-3,106,587,000 -2,994,512,000 -2,866,018,000 -2,773,293,000 -2,673,394,000 -2,578,235,000 -2,467,229,000 -2,359,475,000 -2,256,847,000 -2,141,862,000 -1,954,819,000 -1,868,717,000 -1,795,946,000  -1,522,479,000 -1,360,485,000 -1,131,053,000  -916,914,000 -809,388,000 -711,813,000  -512,847,000 -435,177,000 -380,538,000    -303,209,000   
        total stockholders’ deficit
      		-181,073,000 -99,307,000 -354,473,000 -305,475,000 -250,789,000                           
        total liabilities and stockholders’ deficit
      		1,915,291,000 2,013,659,000 1,276,786,000 1,331,999,000 1,344,226,000                           
        preferred stock, par value of 0.00001 per share; 10,000,000 shares authorized, no shares issued and outstanding as of december 31, 2025 and 2024
      		                               
        convertible senior notes, net, principal amount of 1,090,660 and 1,150,000 as of september 30, 2025 and december 31, 2024, respectively
      		  1,114,594,000                             
        preferred stock, par value of 0.00001 per share; 10,000,000 shares authorized, no shares issued and outstanding as of september 30, 2025 and december 31, 2024
      		                               
        treasury stock
      		  -45,010,000 -45,010,000 -45,010,000                           
        convertible senior notes, net, principal amount of 1,090,660 and 1,150,000 as of june 30, 2025 and december 31, 2024, respectively
      		   1,115,526,000                            
        preferred stock, par value of 0.00001 per share; 10,000,000 shares authorized, no shares issued and outstanding as of june 30, 2025 and december 31, 2024
      		                               
        convertible senior notes, net, principal amount of 1,090,660 and 1,150,000 as of march 31, 2025 and december 31, 2024, respectively
      		    1,116,339,000                           
        preferred stock, par value of 0.00001 per share; 10,000,000 shares authorized, no shares issued and outstanding as of march 31, 2025 and december 31, 2024
      		                               
        liabilities and stockholders’ equity
      		                               
        stockholders’ equity
      		                               
        preferred stock, par value of 0.00001 per share; 10,000,000 shares authorized, no shares issued and outstanding as of december 31, 2024 and 2023
      		                               
        total stockholders’ equity
      		     -139,647,000   68,285,000 158,684,000 228,299,000 292,726,000   166,745,000 319,087,000 533,040,000  709,420,000 788,065,000 847,046,000  1,092,204,000 1,114,589,000 785,113,000    468,134,000   
        total liabilities and stockholders’ equity
      		     1,485,609,000   1,704,598,000 1,786,421,000 1,797,231,000 1,840,017,000   1,701,779,000 1,853,737,000 2,129,598,000               
        stockholders’ equity:
      		                               
        preferred stock, par value of 0.00001 per share; 10,000,000 shares authorized, no shares issued and outstanding as of september 30, 2024 and december 31, 2023
      		                               
        total stockholders’ (deficit) equity
      		      -60,096,000 -1,613,000     -44,551,000                   
        total liabilities and stockholders’ (deficit) equity
      		      1,538,727,000 1,609,340,000     1,511,631,000                   
        preferred stock, par value of 0.00001 per share; 10,000,000 shares authorized, no shares issued and outstanding as of june 30, 2024 and december 31, 2023
      		                               
        preferred stock, par value of 0.00001 per share; 10,000,000 shares authorized, no shares issued and outstanding as of march 31, 2024 and december 31, 2023
      		                               
        accounts payable and accrued liabilities
      		         187,952,000 205,266,000 188,696,000 190,534,000 175,817,000                  
        preferred stock, par value of 0.00001 per share; 10,000,000 shares authorized, no shares issued and outstanding as of december 31, 2023 and 2022
      		                               
        preferred stock, par value of 0.00001 per share; 10,000,000 shares authorized, no shares issued and outstanding as of september 30, 2023 and december 31, 2022
      		                               
        preferred stock, par value of 0.00001 per share; 10,000,000 shares authorized, no shares issued and outstanding as of june 30, 2023 and december 31, 2022
      		                               
        liabilities and stockholders’ (deficit) equity
      		                               
        stockholders’ (deficit) equity:
      		                               
        preferred stock, par value of 0.00001 per share; 10,000,000 shares authorized, no shares issued and outstanding as of march 31, 2023 and december 31, 2022
      		                               
        revenue:
      		                               
        precision oncology testing
      		                               
        development services and other
      		                               
        total revenue
      		                               
        costs and operating expenses:
      		                               
        cost of precision oncology testing
      		                               
        cost of development services and other
      		                               
        research and development expense
      		                               
        sales and marketing expense
      		                               
        general and administrative expense
      		                               
        total costs and operating expenses
      		                               
        income from operations
      		                               
        interest income
      		                               
        interest expense
      		                               
        other income
      		                               
        income before benefit from income taxes
      		                               
        benefit from income taxes
      		                               
        net income
      		                               
        net income per share
      		                               
        weighted-average shares used for eps calculation
      		                               
        long-term marketable debt securities
      		              156,741,000                 
        noncontrolling interest liability
      		                78,000,000 78,000,000              
        preferred stock, par value of 0.00001 per share; 10,000,000 shares authorized, no shares issued and outstanding as of september 30, 2022 and december 31, 2021
      		                               
        long-term marketable securities
      		               382,575,000 588,453,000 698,034,000 250,226,000 55,368,000  246,597,000 51,398,000 146,118,000 238,206,000 268,783,000 302,624,000 277,301,000 25,916,000 77,563,000 2,963,000 
        preferred stock, par value of 0.00001 per share; 10,000,000 shares authorized, no shares issued and outstanding as of june 30, 2022 and december 31, 2021
      		                               
        preferred stock, par value of 0.00001 per share; 10,000,000 shares authorized, no shares issued and outstanding as of march 31, 2022 and december 31, 2021
      		                               
        liabilities, redeemable noncontrolling interest and stockholders’ equity
      		                               
        redeemable noncontrolling interest
      		                  59,400,000 59,400,000 59,400,000  56,400,000 50,400,000 45,500,000 49,600,000 46,500,000 46,800,000 46,500,000 41,800,000 41,950,000 
        accumulated other comprehensive income
      		                  -593,000 33,000 904,000  3,862,000 5,392,000 7,705,000       
        total liabilities, redeemable noncontrolling interest and stockholders’ equity
      		                  2,225,534,000 2,291,885,000 2,346,741,000  1,262,109,000 1,277,536,000 948,167,000    579,171,000   
        capitalized license fees
      		                     45,000 50,000 55,000 60,000 6,890,000 7,133,000 7,313,000 7,557,000 7,800,000 8,044,000 
        obligation related to royalty
      		                         6,880,000 6,780,000 7,136,000 7,120,000 7,338,000 7,446,000 
        deferred rent, net of current portion
      		                          10,564,000 10,912,000 8,975,000 7,844,000 7,623,000 
        capital lease, current
      		                          80,000 74,000 96,000 97,000 102,000 
        deferred rent, current
      		                          745,000     
        capital lease, net of current portion
      		                          57,000 80,000 100,000 119,000 137,000 
        deferred tax assets
      		                           1,235,000    
        deferred tax liabilities
      		                           1,235,000    
        deferred offering costs
      		                              4,257,000 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 
                                      
          operating activities:
        		                              
          net loss
        		-112,075,000 -128,494,000 -92,725,000 -99,899,000 -95,159,000 -111,006,000 -107,754,000 -102,628,000 -114,985,000 -187,043,000 -86,102,000 -72,771,000 -133,533,000 -139,934,000 -161,994,000 -229,432,000 -123,228,000 -72,311,000 -107,526,000 -97,575,000 -107,358,000   -49,739,000 -31,829,000 -22,110,000 -13,090,000 -11,300,000 -21,351,000 -25,272,000 
          adjustments to reconcile net loss to net cash from operating activities:
        		                              
          depreciation and amortization
        		9,442,000 10,050,000 9,408,000 10,042,000 10,236,000 10,454,000 10,598,000 10,623,000 10,712,000 10,868,000 11,037,000 10,631,000 10,345,000 10,169,000 9,807,000 8,785,000 7,201,000 6,090,000 5,544,000 5,627,000 5,010,000 4,603,000 4,353,000 3,805,000 3,304,000 3,448,000 2,952,000 2,657,000 2,354,000 2,169,000 
          operating lease costs
        		8,561,000 8,564,000 8,571,000 8,572,000 7,870,000 7,776,000 8,131,000 7,607,000 7,619,000 7,553,000 7,438,000 7,369,000 7,339,000                  
          gain on extinguishment of convertible notes
        		 0 0 0 -13,672,000                          
          stock-based compensation
        		47,608,000 43,190,000 42,808,000 42,462,000 37,757,000 36,366,000 49,769,000 27,235,000 27,041,000 24,320,000 21,819,000 22,354,000 22,266,000 23,703,000 20,639,000 25,544,000 24,799,000 26,857,000 35,016,000 34,507,000 55,069,000 56,762,000 55,198,000 25,815,000 6,338,000 5,072,000 5,485,000 3,215,000 3,182,000 2,563,000 
          amortization of discount on marketable securities
        		-6,986,000                              
          impairment of non-marketable equity securities
        		  0 0 5,000,000        5,485,000                  
          interest income received on marketable securities
        		11,825,000                              
          other
        		-727,000 321,000 -335,000 -1,220,000 940,000 -144,000 987,000 733,000 652,000 -1,286,000 6,000    3,000 -1,000 21,000              
          changes in operating assets and liabilities:
        		                              
          accounts receivable
        		942,000 -22,204,000 14,454,000 -14,310,000 -6,115,000 -21,705,000 12,053,000 -15,957,000 4,220,000 18,000 -2,335,000 -1,654,000 12,349,000 -11,056,000 9,076,000 -10,944,000 13,299,000 -36,908,000 -7,077,000 -5,628,000 5,260,000 -17,044,000 4,687,000 7,073,000 -179,000 -8,297,000 674,000 -11,374,000 11,608,000 -21,050,000 
          inventory
        		2,025,000 4,614,000 -6,428,000 -6,805,000 -6,173,000 1,214,000 -5,314,000 -3,993,000 -1,042,000 15,085,000 -16,504,000 -14,056,000 5,125,000 11,449,000 -3,157,000 -23,281,000 -5,937,000 -5,934,000 1,755,000 2,382,000 -6,160,000 5,015,000 -7,377,000 4,794,000 -9,967,000 -421,000 -584,000 -3,920,000 -1,120,000 -2,061,000 
          prepaid expenses and other current assets
        		-7,238,000 2,253,000 -1,331,000 -4,204,000 -3,072,000 1,501,000 -531,000 -3,034,000 -5,627,000 -1,774,000 -1,667,000 2,463,000 -3,354,000 -7,943,000 4,717,000 1,788,000 21,882,000 -29,995,000 -2,722,000 -3,557,000 521,000 -6,568,000 53,000 3,036,000 -2,598,000 -5,732,000 -1,575,000 2,069,000 -947,000 -1,180,000 
          other assets
        		1,063,000 -567,000 -306,000 388,000 697,000 -814,000 -1,431,000 -1,154,000 1,024,000 -982,000 580,000 -65,000 1,765,000 6,928,000 469,000 455,000 3,846,000 -956,000 1,056,000 -5,484,000 1,202,000 -11,755,000 -7,329,000 -403,000 161,000 -1,809,000 86,000 -296,000 -833,000 -548,000 
          accounts payable and accrued liabilities
        		-8,229,000 53,745,000 3,277,000 -2,736,000 -1,537,000 16,993,000 -4,788,000 -28,265,000 13,240,000 62,014,000 10,065,000 2,626,000 13,886,000                  
          operating lease liabilities
        		-8,604,000 -9,502,000 -9,196,000 -9,261,000 -9,565,000 -9,086,000 -9,333,000 -8,861,000 -8,835,000 -8,754,000 -7,754,000 -7,548,000 -7,422,000 -7,235,000 -6,398,000 -3,489,000 -3,106,000 13,947,000 3,291,000 -271,000 -2,762,000 -2,519,000 358,000 -2,023,000 -1,858,000      
          deferred revenue
        		-3,230,000 3,952,000 -3,610,000 16,686,000 2,427,000 9,065,000 -2,855,000 7,566,000 4,887,000 -1,435,000 9,224,000 -1,911,000 -4,145,000 5,821,000 -1,897,000 6,706,000 -757,000 4,009,000 -1,163,000 120,000 -190,000 1,213,000 -4,148,000 -451,000 -341,000 -818,000 -3,401,000 -617,000 975,000 12,183,000 
          net cash from operating activities
        		-65,623,000 -26,373,000 -35,413,000 -60,285,000 -62,689,000 -64,513,000 -51,059,000 -94,002,000 -30,284,000 -78,728,000 -77,791,000 -94,015,000 -74,441,000 -90,749,000 -78,160,000 -111,935,000 -28,619,000 -76,988,000 -53,145,000 -62,593,000 -16,291,000 -59,223,000 -8,057,000 -23,365,000 -13,282,000 -30,342,000 1,347,000 -13,836,000 -4,303,000 -26,538,000 
          capital expenditures
        		-5,580,000 -27,848,000 -10,350,000 -5,649,000 -4,459,000 -18,875,000 0 -5,077,000 -5,294,000 -603,000 -2,372,000 -6,513,000 -7,524,000 -10,001,000 -21,726,000 -23,034,000 -22,700,000 -697,000 -22,849,000 -18,675,000 -9,586,000 0 -9,786,000 -5,476,000 -8,233,000 0 2,544,000 -3,047,000 -2,705,000 -3,268,000 
          free cash flows
        		-71,203,000 -54,221,000 -45,763,000 -65,934,000 -67,148,000 -83,388,000 -51,059,000 -99,079,000 -35,578,000 -79,331,000 -80,163,000 -100,528,000 -81,965,000 -100,750,000 -99,886,000 -134,969,000 -51,319,000 -77,685,000 -75,994,000 -81,268,000 -25,877,000 -59,223,000 -17,843,000 -28,841,000 -21,515,000 -30,342,000 3,891,000 -16,883,000 -7,008,000 -29,806,000 
          investing activities:
        		                              
          purchases of marketable securities
        		-249,936,000                  -207,919,000 -55,509,000 -70,654,000  -114,870,000 -409,542,000 -55,760,000      
          proceeds from marketable securities
        		954,934,000                              
          purchases of property and equipment
        		-5,580,000 -27,848,000 -10,350,000 -5,649,000 -4,459,000 -18,875,000             -22,149,000 -18,675,000 -9,586,000  -9,786,000 -9,507,000 -9,598,000      
          net cash from investing activities
        		699,418,000 -905,067,000 -14,350,000 -10,649,000 302,864,000 10,530,000 -294,827,000 -5,077,000 28,066,000 663,454,000 260,699,000 -241,127,000 157,224,000 70,627,000 41,274,000 -72,893,000 110,808,000 -266,697,000 -47,394,000 127,066,000 123,870,000 -297,685,000 -14,656,000 -325,549,000 20,804,000 23,358,000 -35,730,000 -320,527,000 15,329,000 -197,688,000 
          financing activities:
        		                              
          proceeds from issuance of common stock upon exercise of stock options
        		3,651,000 13,177,000 3,721,000 1,557,000 768,000 522,000 20,000 2,364,000 213,000 115,000 70,000 63,000 157,000 120,000 347,000 1,195,000 963,000 1,047,000 1,677,000 926,000 4,462,000 2,129,000 3,851,000 2,044,000 1,504,000 1,844,000 4,265,000 4,992,000 538,000 539,000 
          employee taxes paid related to net share settlement of restricted stock units
        		-20,650,000 -5,352,000 -2,265,000                            
          repurchase of treasury stock
        		 0 0 0 -45,010,000                          
          payment of debt issuance costs
        		-102,000 -12,299,000 0 -151,000 -12,138,000                          
          proceeds from unwinding of convertible note hedges
        		 0 0 0 5,030,000                          
          net cash from financing activities
        		-21,577,000 732,028,000 4,331,000 1,624,000 -66,850,000 -2,935,000 -2,885,000 5,898,000 -1,074,000 90,568,000 3,807,000 383,854,000 -854,000 2,318,000 -19,312,000 -172,087,000 -12,000 3,780,000 -5,560,000 4,909,000 -69,953,000 1,046,724,000 797,000 361,320,000 1,466,000 3,077,000 6,871,000 355,068,000 2,288,000 250,364,000 
          net effect of foreign exchange rate changes on cash, cash equivalents and restricted cash
        		-194,000 -686,000 -533,000 937,000 773,000 -1,695,000 1,900,000 -837,000 -1,138,000 1,030,000 -526,000 -1,252,000 -163,000 1,140,000 -529,000 -1,419,000 -792,000  -113,000 7,000 -1,087,000          
          net increase in cash, cash equivalents and restricted cash
        		612,024,000 -200,098,000 -45,965,000 -68,373,000 174,098,000 -58,613,000 -346,871,000 -94,018,000 -4,430,000 676,324,000 186,189,000 47,460,000 81,766,000 -16,664,000 -56,727,000 -358,334,000 81,385,000 -340,405,000 -106,212,000 69,389,000 36,539,000     -3,960,000 -27,465,000 20,864,000 13,245,000 26,165,000 
          cash, cash equivalents and restricted cash—beginning of period
        		489,417,000  0 0 629,755,000  0 0 1,133,687,000  0 0 141,948,000  0 0 492,288,000              
          cash, cash equivalents and restricted cash—end of period
        		1,101,441,000  -45,965,000 -68,373,000 803,853,000  -346,871,000 -94,018,000 1,129,257,000  186,189,000 47,460,000 223,714,000  -56,727,000 -358,334,000 573,673,000  -106,212,000 69,389,000 869,516,000          
          reconciliation of cash, cash equivalents and restricted cash:
        		                              
          cash and cash equivalents
        		989,291,000 -201,810,000 -49,130,000 -69,429,000 698,572,000 -59,482,000 -348,672,000 -95,333,000 1,029,027,000 676,198,000         -106,220,000            
          restricted cash
        		112,150,000  3,165,000 1,056,000 105,281,000                          
          total cash, cash equivalents and restricted cash
        		1,101,441,000 -200,098,000 -45,965,000 -68,373,000 803,853,000 -58,613,000 -346,871,000 -94,018,000 1,129,257,000 676,324,000         -106,212,000            
          interest income received on marketable debt securities
        		 0 0 0 7,677,000                          
          amortization of discount on marketable debt securities
        		                              
          unrealized and realized losses on marketable equity securities
        		     -2,824,000                         
          impairment of non-marketable equity securities and other related assets
        		         0 0                    
          other legal liabilities
        		                              
          purchases of marketable debt securities
        		     0                         
          maturities of marketable debt securities
        		 0 0 0 307,323,000 0                         
          sales of marketable equity securities and other related assets
        		                              
          purchases of non-marketable equity securities and other related assets
        		     -5,000,000                         
          acquisition of business, net of cash acquired
        		                              
          proceeds from issuance of common stock under employee stock purchase plan
        		                              
          proceeds from reissuance of treasury stock
        		                              
          proceeds from equity offerings
        		                              
          payment of equity offering costs
        		                              
          proceeds from borrowings on convertible senior notes
        		                              
          cash, cash equivalents and restricted cash – beginning of period
        		                              
          cash, cash equivalents and restricted cash – end of period
        		                              
          supplemental disclosures of cash flow information:
        		                              
          cash paid for interest
        		                         321,000 280,000 287,000 293,000 1,184,000 
          cash paid for income taxes
        		                         0   -48,000  
          supplemental disclosures of noncash investing and financing activities:
        		                              
          operating lease liabilities arising from obtaining right-of-use assets
        		         1,299,000    0   3,940,000 314,000 157,000 64,000 170,847,000   9,416,000 1,957,000      
          purchases of property and equipment included in accounts payable and accrued liabilities
        		                              
          restricted cash – included in restricted cash
        		                              
          unrealized losses on marketable equity securities
        		       15,485,000 30,054,000 4,803,000    -5,437,000                 
          sales of marketable equity securities
        		                              
          purchases of non-marketable equity securities
        		  -4,000,000                            
          proceeds from issuances of common stock under employee stock purchase plan
        		  0    0    0    0    0    0    3,185,000 0 1,933,000  
          employee taxes paid related to settlement of restricted stock units
        		    -15,497,000                          
          contingent consideration
        		         -120,000 220,000 310,000 -300,000                  
          amortization of debt issuance costs
        		     646,000 645,000 645,000 645,000 644,000 644,000 643,000 644,000  642,000 642,000 642,000  640,000 641,000 641,000          
          amortization of (discount) premium on marketable debt securities
        		         -2,639,000 -7,828,000 -2,076,000 -1,009,000                  
          fair value adjustments of noncontrolling interest liability
        		             0 0                
          joint venture acquisition
        		             0 0                
          tender offer issued in connection with the joint venture acquisition and acquisition related costs
        		             1,000                 
          restricted cash – included in other assets
        		         126,000         8,000            
          cash effect of changes in operating assets and liabilities:
        		                              
          taxes paid related to net share settlement of restricted stock units
        		      -2,874,000 -3,240,000 -1,544,000 -3,085,000 -3,003,000 -4,116,000 -993,000 -1,359,000 -4,340,000 -1,222,000 -957,000 -1,602,000 -7,199,000 -1,382,000 -73,576,000 -1,200,000         
          proceeds from follow-on public offering
        		          0                    
          payment of offering costs related to follow-on public offering
        		          793,000                    
          restricted cash – included in cash, cash equivalents and restricted cash
        		      1,801,000 1,315,000 100,230,000                      
          amortization of premium (discount) on marketable debt securities
        		       -4,000 111,000     1,229,000                 
          purchase of marketable debt securities
        		         0 -68,563,000 -498,087,000 -63,252,000 -65,156,000                 
          maturity of marketable debt securities
        		       0 35,000,000 666,000,000 336,000,000 264,700,000 228,000,000 157,000,000                 
          purchase of non-marketable equity securities and other related assets
        		         0 -4,366,000                    
          purchase of property and equipment
        		       -5,077,000 -6,934,000 -4,077,000 -2,372,000 -6,513,000 -7,524,000 -10,001,000 -21,726,000 -23,034,000 -22,700,000           -3,047,000 -2,705,000 -2,931,000 
          purchase of property and equipment included in accounts payable and accrued liabilities
        		        1,640,000 3,474,000                     
          reclassification of redeemable noncontrolling interest to noncontrolling interest liability
        		                              
          unrealized gains on marketable equity securities
        		           -63,997,000 -3,882,000                  
          payments made on finance lease obligations
        		           -19,000 -18,000 -18,000 -18,000 -17,000 -18,000 -17,000 -38,000 -36,000 -55,000 -49,000         
          purchase of non-marketable equity securities and other related investments
        		              0                
          non-cash operating lease costs
        		             7,191,000 7,197,000 7,248,000 6,949,000 6,879,000 6,943,000 6,907,000 3,932,000 2,218,000         
          charge of in-process research and development costs with no alternative future use
        		                     0 0 0 8,500,000      
          re-valuation of contingent consideration
        		             110,000 390,000 1,415,000 2,390,000 535,000 970,000   0 70,000 0 -190,000      
          amortization of debt discount and debt issuance costs
        		                              
          impairment of other assets
        		             0                 
          credit loss adjustment and others
        		                 39,000    -905,000         
          purchase of intangible assets and capitalized license obligations
        		                     0         
          payment of contingent consideration
        		             0                 
          proceeds from public offerings of common stock
        		                              
          payment of offering costs related to public offerings of common stock
        		                              
          payment of offering costs related to borrowings on convertible senior notes
        		                 0 0 0 -784,000          
          purchase of convertible note hedges
        		                              
          property and equipment acquired under finance leases
        		                 0 2,000            
          vesting of common stock exercised early
        		                              
          debt issuance costs included in accounts payable and accrued liabilities
        		                              
          accounts payable
        		              6,663,000 11,842,000 -753,000 1,699,000 -173,000 -4,874,000 11,986,000 -8,705,000 3,322,000 -11,967,000 9,491,000 3,915,000 -2,987,000 6,023,000 -2,610,000 1,698,000 
          accrued compensation
        		              18,751,000 -17,486,000 13,662,000 3,658,000 4,103,000 -2,445,000 8,900,000 4,243,000 5,511,000 -4,409,000 4,378,000 -6,047,000 10,917,000 -996,000 1,697,000 5,556,000 
          accrued expenses and other liabilities
        		              -1,125,000 7,137,000 8,022,000  3,180,000 2,905,000 4,399,000  306,000    3,429,000    
          purchase of property and equipment included in accounts payable and accrued expenses
        		                              
          issuance costs related to purchase of non-marketable equity and other related investments included in accounts payable and accrued expenses
        		                  -241,000            
          amortization of premium (discount) on marketable securities
        		               1,351,000 2,449,000 3,303,000 3,018,000 3,269,000 3,259,000 2,380,000 571,000 485,000 580,000      
          purchase of marketable securities
        		               -74,859,000 -163,742,000           -372,875,000 -45,966,000 -238,757,000 
          maturity of marketable securities
        		               25,000,000 310,000,000 325,000,000 209,000,000 214,000,000 204,110,000 255,000,000 110,000,000 93,500,000 104,048,000 102,269,000 93,904,000 65,160,000 64,000,000 44,000,000 
          purchase of non-marketable equity and other related investments
        		                -12,750,000 -346,000 -26,326,000            
          unrealized translation gains on obligation related to royalty
        		                          -279,000    
          benefit from income tax differences
        		                              
          changes in operating assets and liabilities, net of effect of acquisition:
        		                              
          accrued expenses and other current liabilities
        		                            2,308,000 -255,000 
          business acquisition, net of cash acquired
        		                         0     
          payment in connection with a license agreement
        		                              
          payments made on royalty obligations
        		                          -77,000 -78,000 -73,000  
          net effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash
        		                         -53,000 47,000 159,000 -69,000  
          purchases of property and equipment included in accounts payable and accrued expenses
        		                 -697,000 -700,000     4,031,000 1,365,000  2,544,000    
          initial fair value of contingent consideration at acquisition date
        		                         0 -70,000    
          debt issuance costs included in accounts payable and accrued expenses
        		                              
          proceeds from public offering, net of underwriting discounts and commissions
        		                      0        
          payment of offering costs related to public offering
        		                      -761,000        
          cash and cash equivalents—beginning of period
        		                  0 0 832,977,000   0 143,228,000      
          follow-on public offering issuance costs included in accounts payable and accrued expenses
        		                              
          deferred rent
        		                          397,000 1,937,000 1,131,000 221,000 
          proceeds from issuance of common stock upon the exercise of warrants
        		                             7,000 
          repurchase of common stock
        		                             0 
          net proceeds from issuance of equity interests in redeemable noncontrolling interest
        		                             0 
          cash and cash equivalents – end of period
        		                              
          deferred offering costs included in accounts payable and accrued expenses
        		                             -3,947,000 
          conversion of convertible preferred stock to common stock upon initial public offering
        		                              
          net income
        		                              
          adjustments to reconcile net income to net cash from operating activities:
        		                              
          unrealized translation gains (loss) on obligation related to royalty
        		                              
          net effect of foreign exchange rate changes on cash and cash equivalents
        		                      190,000 26,000 23,000      
          amortization of right-of-use assets
        		                       1,890,000 1,496,000      
          others
        		                       -75,000 56,000      
          purchase of intangible assets
        		                       0 -17,886,000      
          payments made on capital lease obligations
        		                       -41,000 -38,000 -49,000 -17,000 -41,000 -21,000 -23,000 
          net increase in cash and cash equivalents
        		                       12,432,000 9,011,000      
          cash and cash equivalents—end of period
        		                       12,432,000 152,239,000      
          accrued expenses
        		                        -660,000      
          other liabilities
        		                        36,000      
          payment of offering costs related to initial public offering and follow-on offering
        		                          -485,000    
          amortization of rou
        		                              
          unrealized translation losses on obligation related to royalty
        		                            -144,000 -106,000 
          non-cash interest expense
        		                             -3,000 
          loss on debt extinguishment
        		                              
          long-term operating lease liabilities net of rou
        		                              
          payment related to settlement of debt and buyout of royalty obligations
        		                              
          proceeds from issuance of convertible preferred stock, net of issuance costs
        		                              
          repurchase of convertible preferred stock
        		                              
          cash, cash equivalents and restricted cash - beginning of period
        		                         0 0 0 140,544,000 0 
          cash, cash equivalents and restricted cash - end of period
        		                         -3,960,000 -27,465,000 20,864,000 153,789,000 26,165,000 
          capitalized license fees financed through future royalty payment
        		                              
          issuance of series d convertible preferred stock in exchange for a technology license agreement
        		                              
          increase in purchases of property and equipment included in accounts payable and accrued expenses
        		                             -337,000 
          property and equipment acquired under capital leases
        		                              
          amortization of discounts on marketable securities
        		                          -677,000 -723,000 -553,000  
          benefit from income taxes
        		                              
          purchases of intangible assets and capitalized license obligations
        		                              
          proceeds from follow-on offering, net of underwriting discounts and commissions
        		                          0    
          deferred tax assets
        		                              
          business acquisitions, net of cash acquired
        		                              
          payment of offering costs related to initial public offering
        		                            -89,000 -4,165,000 
          proceeds from initial public offering, net of underwriting discounts and commissions
        		                              
          amortization of premium or discounts on marketable securities
        		                              
          purchases of capitalized license fee included in accrued expenses