the versatility of our platform to expand our product portfolio into other markets in which we believe we have a competitive advantage . in february 2018 , we launched an innovative and comprehensive preparation kit for next generation sequencing at the advances in genome biology and technology conference . our kit leverages our platform to precisely synthesize oligo pools and uniformly amplify the desired target dna segments , considerably improving the accuracy of the downstream sequencing analysis . we have also commercialized a custom dna library solution which enables more 57 effective biologic drug discovery and development for our customers . we believe we can further leverage our platform to develop other proprietary tools , such as our anti-gpcr library and antibody optimization solution , to provide an end-to-end solution in biologics drug discovery and early development , from target to investigational new drug ( ind ) application , adding value as a partner to biotech and pharmaceutical companies . we also aim to explore development of dna as a digital data storage medium via internal research and industry partnerships . we have built a scalable commercial platform that enables us to reach a diverse customer base that we believe includes over 100,000 synthetic dna users today . in order to address this diverse customer base , we have employed a multi-channel strategy comprised of a direct sales force targeting synthetic dna customers , a direct sales force focusing on the ngs market and an e-commerce platform . we launched our proprietary , innovative , and easy-to-use e-commerce platform in october 2017 to existing customers and expanded access to the general public in january 2018. our platform allows customers to design , validate , and place on-demand orders of customized dna online . this is a critical part of our strategy to address our large and diverse customer base , as well as drive commercial productivity , enhance the customer experience , and promote loyalty . we generated revenues of $ 2.7 million in the year ended september 30 , 2016 , $ 10.8 million in the year ended september 30 , 2017 and $ 25.4 million in the year ended september 30 , 2018 , while incurring net losses of $ 44.1 million , $ 59.3 million and $ 71.2 million in the years ended september 30 , 2016 , 2017 and 2018 , respectively . since our inception , we have incurred significant operating losses . our ability to generate product revenue sufficient to achieve profitability will depend heavily on the success of our existing products and development and commercialization of additional products in the synthetic biology industry . as of september 30 , 2018 , we had $ 80.8 million in cash and cash equivalents . in fiscal year 2017 , we received net cash proceeds of $ 65.6 million from the sale of shares of series d convertible preferred stock , and as of september 30 , 2018 , we received additional net cash proceeds of $ 90.8 million from the sale of additional shares of series d convertible preferred stock . after giving effect to the net proceeds from our initial public offering of october 2018 , we believe that our existing cash and cash equivalents will be sufficient to fund our planned operating expenses , capital expenditure requirements and debt service payments for at least 12 months from december 20 , 2018. we have based these estimates on assumptions that may prove to be wrong , and we could exhaust our available capital resources sooner than we expect . see liquidity and capital resources. see item 1. business above for additional information regarding our business , products , competitive market and regulatory matters . key business metrics we regularly review the following key business metrics to evaluate our business , measure our performance , identify trends affecting our business , formulate financial projections and make strategic decisions . we believe that the following metrics are representative of our current business ; however , we anticipate these will change or may be substituted for additional or different metrics as our business grows . 58 value of orders received we believe that the value of orders we receive is a leading indicator of our ability to generate revenue . we define an order as a contract with a customer or purchase order from a customer , which outlines the promised goods at an agreed upon price . we regularly assess trends relating to the value of orders we receive , including with respect to our customer concentration . for example , we have experienced quarterly growth in the value of orders received from customers other than ginkgo bioworks , which has increased by approximately 20.4 times from the quarter ended june 30 , 2016 to the quarter ended september 30 , 2018. since commercially launching our product in april 2016 , orders from customers have rapidly increased over the last nine quarters . commencing with our beta access program , we believe we have successfully achieved industry-leading volumes of synthetic dna orders . in 2018 , we launched our e-commerce platform to enable customers to conveniently order our products online . these steps have contributed to outstanding order growth over the last nine quarters , which is illustrated in the table below . replace_table_token_5_th orders may never convert into actual revenue and the timing of delivery of our orders and recognition of revenue , if any , may vary based on the nature of the order , and there can be no assurance that orders will result in recognized revenue . the following table lists the value of orders received , including ginkgo and non-ginkgo orders , during the periods indicated : replace_table_token_6_th number of customers we believe that the number of customers who have purchased from us since inception is representative of our ability to drive adoption of our products and convert dna makers to dna buyers . story_separator_special_tag cash flows the following table summarizes our sources and uses of cash and cash equivalents : replace_table_token_24_th operating activities net cash used in operating activities was $ 38.6 million in 2016 , and consisted primarily of a net loss of $ 44.1 million adjusted for non-cash items including depreciation and amortization expenses of $ 4.2 million , stock-based compensation expense of $ 0.9 million , change in operating assets and liabilities of approximately $ 0.2 million , and other non-cash items of $ 0.2 million . net cash used in operating activities was $ 51.3 million in fiscal 2017 , and consisted primarily of a net loss of $ 59.3 million adjusted for non-cash items including depreciation and amortization expenses of $ 5.0 million , stock-based compensation expense of $ 1.9 million , a change in operating assets and liabilities of approximately $ 0.1 million , and a net increase of non-cash items of $ 1.2 million . net cash used in operating activities was $ 66.2 million in fiscal 2018 , and consisted primarily of a net loss of $ 71.2 million adjusted for non-cash items including depreciation and amortization expenses of $ 5.7 million , stock-based compensation expense of $ 3.0 million , a change in operating assets and liabilities of approximately $ 4.2 million , and a net increase of non-cash items of $ 0.5 million . investing activities in fiscal 2016 , our investing activities used net cash of $ 33.3 million . the investing activity included the purchases of investments , laboratory property and equipment . in fiscal 2017 , our investing activities used net cash of approximately $ 9.9 million . the use of net cash resulted primarily from the net impact of purchases and maturity of investments , and purchases of laboratory property , equipment and computers . in fiscal 2018 , our investing activities provided net cash of approximately $ 26.9 million . investing activities included the purchases and maturity of investments and purchases of laboratory property , equipment and computers . 68 financing activities net cash provided by financing activities was $ 69.6 million in fiscal 2016 , which consisted of $ 62.3 million from the issuance of redeemable convertible preferred stock , $ 0.2 million from the issuance of common stock , and $ 7.7 million from the issuance of debt , partially offset by the repayment of $ 0.4 million of debt . net cash provided by financing activities was $ 63.8 million in fiscal 2017 , which consisted of $ 65.6 million from the issuance of redeemable convertible preferred stock , $ 0.2 million from the issuance of common stock , $ 2.2 million from additional debt , off-set by the repayment of $ 4.2 million of debt . net cash provided by financing activities was $ 88.6 million in fiscal 2018 , which consisted of $ 90.9 million from the issuance of convertible preferred stock , $ 2.4 million in payment of deferred offering costs , and $ 0.3 million from the issuance of common stock and exercise of stock options . off-balance sheet arrangements we do not have any off-balance sheet arrangements other than our indemnification agreements as described in note 8 of the consolidated financial statements included elsewhere in this form 10-k. contractual obligations and other commitments set forth below is information concerning our contractual commitments and obligations as of september 30 , 2018 : replace_table_token_25_th in september 2016 , we entered into a collaboration agreement with distributed bio to offer therapeutic antibody design and optimization services , as well as an exclusive library targeting g-protein coupled receptors to our customers . upon successful commercialization , we agreed on a profit-sharing and license arrangement for an antibody optimization software and gpcr-targeting antibody library , which includes royalty payments for discovered pharmaceutical products in a tiered structure , which ranges from 25 % to 35 % of net revenue generated . in march 2018 , we entered into a stock purchase agreement related to the sale of additional shares of our series d redeemable convertible preferred stock for the amount of $ 70.0 million . pursuant to a side letter to the stock purchase agreement , we have committed , subject to certain conditions , to using commercially reasonable efforts to invest up to $ 5.0 million , $ 10.0 million and $ 10.0 million over a three year period in connection with the incorporation , business and or operations of a wholly owned foreign enterprise in the prc . critical accounting policies and significant management estimates the discussion and analysis of our financial condition and results of operations are based upon our audited consolidated financial statements , which have been prepared in accordance with accounting principles generally accepted in the united states of america . the preparation of these financial statements requires management to make estimates and judgments that affect the reported amounts of assets , liabilities , revenues and expenses , and related disclosures of contingent assets and liabilities . on an ongoing basis , management evaluates the reasonableness of its estimates . management bases its estimates on historical experience and on various assumptions that are believed to be reasonable under the circumstances , the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily available from other sources . actual results may differ materially from these estimates under different assumptions or conditions . 69 we believe the following critical accounting policies require that we make significant judgments and estimates in preparing our consolidated financial statements . revenue recognition effective october 1 , 2017 , we elected to early adopt the requirements of asc 606  revenue from contracts with customers using the full retrospective method . we evaluated the impact on revenues , loss from operations , net loss attributable to common stockholders and basic and diluted earnings per share for all periods presented and concluded that there was no material impact

liquidity and capital resources sources of liquidity to date , we have financed our operations principally through private placements of our convertible preferred stock , borrowings from credit facilities and revenue from our commercial operations . 65 since our inception on february 4 , 2013 and through september 30 , 2018 , we have received an aggregate of $ 290.5 million in net proceeds from the issuance of equity securities and an aggregate of $ 13.8 million from debt . as of september 30 , 2018 , we had a balance of $ 80.8 million of cash and cash equivalents and had no short-term investments . preferred stock financings as of september 30 , 2018 , we had raised $ 290.5 million in net proceeds from the sale of our equity securities , including the sale of 10,326,454 shares of our series d redeemable convertible preferred stock from january 2016 through september 2018 at a purchase price of $ 21.24 per share for gross proceeds of $ 219.4 million . on march 19 , 2018 and may 29 , 2018 , we issued 2,353,544 and 941,417 shares of series d redeemable convertible preferred stock for an aggregate purchase price of approximately $ 50.0 million and $ 20.0 million , respectively . on july 2 , 2018 and july 3 , 2018 , we issued 517,778 and 47,070 shares of series d redeemable convertible preferred stock for an aggregate purchase price of $ 11.0 million and $ 1.0 million , respectively . debt financings we have entered into various credit facilities to obtain debt financing from time to time beginning in october 2013. in december 2015 , we entered into a second amended and restated loan and security agreement , or the third loan , for amounts aggregating up to $ 15.0 million in a series of three advances . the third loan contains an acceleration clause under which the loan can become due and payable to silicon valley bank , or svb , in certain events of default , including in the event of a material adverse change in our business .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources sources of liquidity to date , we have financed our operations principally through private placements of our convertible preferred stock , borrowings from credit facilities and revenue from our commercial operations . 65 since our inception on february 4 , 2013 and through september 30 , 2018 , we have received an aggregate of $ 290.5 million in net proceeds from the issuance of equity securities and an aggregate of $ 13.8 million from debt . as of september 30 , 2018 , we had a balance of $ 80.8 million of cash and cash equivalents and had no short-term investments . preferred stock financings as of september 30 , 2018 , we had raised $ 290.5 million in net proceeds from the sale of our equity securities , including the sale of 10,326,454 shares of our series d redeemable convertible preferred stock from january 2016 through september 2018 at a purchase price of $ 21.24 per share for gross proceeds of $ 219.4 million . on march 19 , 2018 and may 29 , 2018 , we issued 2,353,544 and 941,417 shares of series d redeemable convertible preferred stock for an aggregate purchase price of approximately $ 50.0 million and $ 20.0 million , respectively . on july 2 , 2018 and july 3 , 2018 , we issued 517,778 and 47,070 shares of series d redeemable convertible preferred stock for an aggregate purchase price of $ 11.0 million and $ 1.0 million , respectively . debt financings we have entered into various credit facilities to obtain debt financing from time to time beginning in october 2013. in december 2015 , we entered into a second amended and restated loan and security agreement , or the third loan , for amounts aggregating up to $ 15.0 million in a series of three advances . the third loan contains an acceleration clause under which the loan can become due and payable to silicon valley bank , or svb , in certain events of default , including in the event of a material adverse change in our business .
```    
 Suspicious Activity Report : the versatility of our platform to expand our product portfolio into other markets in which we believe we have a competitive advantage . in february 2018 , we launched an innovative and comprehensive preparation kit for next generation sequencing at the advances in genome biology and technology conference . our kit leverages our platform to precisely synthesize oligo pools and uniformly amplify the desired target dna segments , considerably improving the accuracy of the downstream sequencing analysis . we have also commercialized a custom dna library solution which enables more 57 effective biologic drug discovery and development for our customers . we believe we can further leverage our platform to develop other proprietary tools , such as our anti-gpcr library and antibody optimization solution , to provide an end-to-end solution in biologics drug discovery and early development , from target to investigational new drug ( ind ) application , adding value as a partner to biotech and pharmaceutical companies . we also aim to explore development of dna as a digital data storage medium via internal research and industry partnerships . we have built a scalable commercial platform that enables us to reach a diverse customer base that we believe includes over 100,000 synthetic dna users today . in order to address this diverse customer base , we have employed a multi-channel strategy comprised of a direct sales force targeting synthetic dna customers , a direct sales force focusing on the ngs market and an e-commerce platform . we launched our proprietary , innovative , and easy-to-use e-commerce platform in october 2017 to existing customers and expanded access to the general public in january 2018. our platform allows customers to design , validate , and place on-demand orders of customized dna online . this is a critical part of our strategy to address our large and diverse customer base , as well as drive commercial productivity , enhance the customer experience , and promote loyalty . we generated revenues of $ 2.7 million in the year ended september 30 , 2016 , $ 10.8 million in the year ended september 30 , 2017 and $ 25.4 million in the year ended september 30 , 2018 , while incurring net losses of $ 44.1 million , $ 59.3 million and $ 71.2 million in the years ended september 30 , 2016 , 2017 and 2018 , respectively . since our inception , we have incurred significant operating losses . our ability to generate product revenue sufficient to achieve profitability will depend heavily on the success of our existing products and development and commercialization of additional products in the synthetic biology industry . as of september 30 , 2018 , we had $ 80.8 million in cash and cash equivalents . in fiscal year 2017 , we received net cash proceeds of $ 65.6 million from the sale of shares of series d convertible preferred stock , and as of september 30 , 2018 , we received additional net cash proceeds of $ 90.8 million from the sale of additional shares of series d convertible preferred stock . after giving effect to the net proceeds from our initial public offering of october 2018 , we believe that our existing cash and cash equivalents will be sufficient to fund our planned operating expenses , capital expenditure requirements and debt service payments for at least 12 months from december 20 , 2018. we have based these estimates on assumptions that may prove to be wrong , and we could exhaust our available capital resources sooner than we expect . see liquidity and capital resources. see item 1. business above for additional information regarding our business , products , competitive market and regulatory matters . key business metrics we regularly review the following key business metrics to evaluate our business , measure our performance , identify trends affecting our business , formulate financial projections and make strategic decisions . we believe that the following metrics are representative of our current business ; however , we anticipate these will change or may be substituted for additional or different metrics as our business grows . 58 value of orders received we believe that the value of orders we receive is a leading indicator of our ability to generate revenue . we define an order as a contract with a customer or purchase order from a customer , which outlines the promised goods at an agreed upon price . we regularly assess trends relating to the value of orders we receive , including with respect to our customer concentration . for example , we have experienced quarterly growth in the value of orders received from customers other than ginkgo bioworks , which has increased by approximately 20.4 times from the quarter ended june 30 , 2016 to the quarter ended september 30 , 2018. since commercially launching our product in april 2016 , orders from customers have rapidly increased over the last nine quarters . commencing with our beta access program , we believe we have successfully achieved industry-leading volumes of synthetic dna orders . in 2018 , we launched our e-commerce platform to enable customers to conveniently order our products online . these steps have contributed to outstanding order growth over the last nine quarters , which is illustrated in the table below . replace_table_token_5_th orders may never convert into actual revenue and the timing of delivery of our orders and recognition of revenue , if any , may vary based on the nature of the order , and there can be no assurance that orders will result in recognized revenue . the following table lists the value of orders received , including ginkgo and non-ginkgo orders , during the periods indicated : replace_table_token_6_th number of customers we believe that the number of customers who have purchased from us since inception is representative of our ability to drive adoption of our products and convert dna makers to dna buyers . story_separator_special_tag cash flows the following table summarizes our sources and uses of cash and cash equivalents : replace_table_token_24_th operating activities net cash used in operating activities was $ 38.6 million in 2016 , and consisted primarily of a net loss of $ 44.1 million adjusted for non-cash items including depreciation and amortization expenses of $ 4.2 million , stock-based compensation expense of $ 0.9 million , change in operating assets and liabilities of approximately $ 0.2 million , and other non-cash items of $ 0.2 million . net cash used in operating activities was $ 51.3 million in fiscal 2017 , and consisted primarily of a net loss of $ 59.3 million adjusted for non-cash items including depreciation and amortization expenses of $ 5.0 million , stock-based compensation expense of $ 1.9 million , a change in operating assets and liabilities of approximately $ 0.1 million , and a net increase of non-cash items of $ 1.2 million . net cash used in operating activities was $ 66.2 million in fiscal 2018 , and consisted primarily of a net loss of $ 71.2 million adjusted for non-cash items including depreciation and amortization expenses of $ 5.7 million , stock-based compensation expense of $ 3.0 million , a change in operating assets and liabilities of approximately $ 4.2 million , and a net increase of non-cash items of $ 0.5 million . investing activities in fiscal 2016 , our investing activities used net cash of $ 33.3 million . the investing activity included the purchases of investments , laboratory property and equipment . in fiscal 2017 , our investing activities used net cash of approximately $ 9.9 million . the use of net cash resulted primarily from the net impact of purchases and maturity of investments , and purchases of laboratory property , equipment and computers . in fiscal 2018 , our investing activities provided net cash of approximately $ 26.9 million . investing activities included the purchases and maturity of investments and purchases of laboratory property , equipment and computers . 68 financing activities net cash provided by financing activities was $ 69.6 million in fiscal 2016 , which consisted of $ 62.3 million from the issuance of redeemable convertible preferred stock , $ 0.2 million from the issuance of common stock , and $ 7.7 million from the issuance of debt , partially offset by the repayment of $ 0.4 million of debt . net cash provided by financing activities was $ 63.8 million in fiscal 2017 , which consisted of $ 65.6 million from the issuance of redeemable convertible preferred stock , $ 0.2 million from the issuance of common stock , $ 2.2 million from additional debt , off-set by the repayment of $ 4.2 million of debt . net cash provided by financing activities was $ 88.6 million in fiscal 2018 , which consisted of $ 90.9 million from the issuance of convertible preferred stock , $ 2.4 million in payment of deferred offering costs , and $ 0.3 million from the issuance of common stock and exercise of stock options . off-balance sheet arrangements we do not have any off-balance sheet arrangements other than our indemnification agreements as described in note 8 of the consolidated financial statements included elsewhere in this form 10-k. contractual obligations and other commitments set forth below is information concerning our contractual commitments and obligations as of september 30 , 2018 : replace_table_token_25_th in september 2016 , we entered into a collaboration agreement with distributed bio to offer therapeutic antibody design and optimization services , as well as an exclusive library targeting g-protein coupled receptors to our customers . upon successful commercialization , we agreed on a profit-sharing and license arrangement for an antibody optimization software and gpcr-targeting antibody library , which includes royalty payments for discovered pharmaceutical products in a tiered structure , which ranges from 25 % to 35 % of net revenue generated . in march 2018 , we entered into a stock purchase agreement related to the sale of additional shares of our series d redeemable convertible preferred stock for the amount of $ 70.0 million . pursuant to a side letter to the stock purchase agreement , we have committed , subject to certain conditions , to using commercially reasonable efforts to invest up to $ 5.0 million , $ 10.0 million and $ 10.0 million over a three year period in connection with the incorporation , business and or operations of a wholly owned foreign enterprise in the prc . critical accounting policies and significant management estimates the discussion and analysis of our financial condition and results of operations are based upon our audited consolidated financial statements , which have been prepared in accordance with accounting principles generally accepted in the united states of america . the preparation of these financial statements requires management to make estimates and judgments that affect the reported amounts of assets , liabilities , revenues and expenses , and related disclosures of contingent assets and liabilities . on an ongoing basis , management evaluates the reasonableness of its estimates . management bases its estimates on historical experience and on various assumptions that are believed to be reasonable under the circumstances , the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily available from other sources . actual results may differ materially from these estimates under different assumptions or conditions . 69 we believe the following critical accounting policies require that we make significant judgments and estimates in preparing our consolidated financial statements . revenue recognition effective october 1 , 2017 , we elected to early adopt the requirements of asc 606  revenue from contracts with customers using the full retrospective method . we evaluated the impact on revenues , loss from operations , net loss attributable to common stockholders and basic and diluted earnings per share for all periods presented and concluded that there was no material impact

