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Segment and Geographic Information | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Segment and Geographic Information | Segment and Geographic Information The Company operates as a single operating segment. An operating segment is defined as a component of an entity for which discrete financial information is available and regularly reviewed by the entity's chief operating decision maker ("CODM") in deciding how to allocate resources and in assessing performance. The Company’s CODM, its Chairman and Chief Executive Officer, manages the Company’s operations on a consolidated basis for the purposes of allocating resources, making operating decisions and evaluating financial performance. Net loss as reported on the condensed consolidated statements of operations and comprehensive loss is used by the CODM to assess segment performance against management budgets and prior period operating results for the purpose of making results-driven decisions about organizational resource allocation. Segment revenues are derived from molecular profiling, strategic data, and research services that are delivered to the Company’s biopharmaceutical and clinical customers, who are predominantly located in the United States. The Company provides these services primarily by leveraging the Company’s proprietary technologies and clinico-genomic database, which are core to the Company’s operations and are deployed similarly across the service offerings. The table below is a summary of the segment profit or loss, including significant segment expenses:
| Three Months Ended June 30, |  | Six Months Ended June 30, |
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |  |
| (amounts in thousands)
Revenue | $ | 181,398 |  |  | $ | 100,049 |  |  | $ | 302,314 |  |  | $ | 180,727 |  |  |  |  |  |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Cost of services - Molecular profiling services | 65,321 |  |  | 59,431 |  |  | 126,215 |  |  | 112,324 |  |  |  |  |  |
Cost of services - Pharma research and development services | 2,392 |  |  | 3,064 |  |  | 5,350 |  |  | 4,732 |  |  |  |  |  |
Selling and marketing expense | 42,260 |  |  | 38,710 |  |  | 82,089 |  |  | 78,319 |  |  |  |  |  |
General and administrative expense | 64,367 |  |  | 41,068 |  |  | 116,486 |  |  | 85,422 |  |  |  |  |  |
Research and development expense | 25,047 |  |  | 24,787 |  |  | 48,114 |  |  | 59,164 |  |  |  |  |  |
Interest income | 1,618 |  |  | 2,640 |  |  | 2,121 |  |  | 4,408 |  |  |  |  |  |
Interest expense | (19,208) |  |  | (13,674) |  |  | (31,990) |  |  | (22,964) |  |  |  |  |  |
Changes in fair value of financial instruments | (17,870) |  |  | 12,000 |  |  | (50,203) |  |  | 936 |  |  |  |  |  |
Other expense, net | (18,341) |  |  | (141) |  |  | (18,358) |  |  | (360) |  |  |  |  |  |
Segment and consolidated net loss | $ | (71,790) |  |  | $ | (66,186) |  |  | $ | (174,370) |  |  | $ | (177,214) |  |  |  |  |  |
The following table sets forth the Company’s revenue by geographic areas based on the customer’s location:
| Three Months Ended June 30, |  | Six Months Ended June 30, |
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |  |
| (amounts in thousands)
United States | $ | 178,177 |  |  | $ | 97,381 |  |  | $ | 296,611 |  |  | $ | 175,811 |  |  |  |  |  |
International | 3,221 |  |  | 2,668 |  |  | 5,703 |  |  | 4,916 |  |  |  |  |  |
Total revenue | $ | 181,398 |  |  | $ | 100,049 |  |  | $ | 302,314 |  |  | $ | 180,727 |  |  |  |  |  |
No single country outside of the United States accounted for more than 10.0% of total revenue during each of the three months ended June 30, 2025 and 2024, or the six months ended June 30, 2025 and 2024. As of June 30, 2025 and December 31, 2024, approximately 99.0% of the Company’s total assets are located in the United States.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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