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v3.25.1

Segment | 3 Months Ended
--- | ---
Mar. 31, 2025
Segment Reporting [Abstract] |
Segment | Segment The chief operating decision maker for the Company is the Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of allocating resources and assessing financial performance. The Company has a single reporting unit associated with the development and commercialization of diagnostic products and biopharmaceutical services. The accounting policies of the Company's single segment are the same as those described in the summary of significant accounting policies in Note 1, Organization, Description of Business and Summary of Significant Accounting Policies. The chief operating decision maker assesses performance of the Company's single segment and decides how to allocate resources based on consolidated net income. Under the current organizational structure, this measure is not discreetly available or required individually for any of the Company’s business activities and is only available at the consolidated level. The monitoring of budgeted versus actual results are used in assessing performance of the Company's single segment, allocating resources and in establishing management’s compensation. The Company's chief operating decision maker intends for all revenue generating activities to rely on cross-functional activities across the consolidated entity in order to operate. No individual besides the chief operating decision maker has been tasked with reviewing discreet operating results of the business activities, nor is there any intent to bifurcate the overall business review process to produce discreet operating results specific to any of the Company's business activities. The measure of segment assets is reported on the consolidated balance sheet as total consolidated assets. Consolidated revenue does not include any inter-segment sales or transfers. Information about reported segment revenue, measures of segment profit or loss, significant segment expenses and reconciliation to income from operations was as follows (in thousands):
|  |  | Three Months Ended March 31,
|  |  |  |  | March 31, 2025 |  | March 31, 2024
Revenue: |  |  |  |  |  |  |
Testing revenue |  |  |  |  | $ | 107,309 |  |  | $ | 90,303 |
Product revenue |  |  |  |  | 3,580 |  |  | 3,537 |
Biopharmaceutical and other revenue |  |  |  |  | 3,584 |  |  | 3,004 |
Total revenue |  |  |  |  | 114,473 |  |  | 96,844 |
Cost of revenue: |  |  |  |  |  |  |
Cost of testing revenue: |  |  |  |  |  |  |
Laboratory supplies and reagents expense |  |  |  |  | 13,067 |  |  | 11,918 |
Sample collection expense |  |  |  |  | 2,825 |  |  | 3,057 |
Compensation expense |  |  |  |  | 5,611 |  |  | 5,215 |
Other cost of testing revenue (1) |  |  |  |  | 3,385 |  |  | 2,846 |
Allocation of facilities and IT expenses |  |  |  |  | 3,372 |  |  | 2,943 |
Total cost of testing revenue |  |  |  |  | 28,260 |  |  | 25,979 |
Cost of product revenue: |  |  |  |  |  |  |
Product costs |  |  |  |  | 109 |  |  | 1,263 |
License fees and royalties |  |  |  |  | 324 |  |  | 436 |
Other cost of product revenue (2) |  |  |  |  | 792 |  |  | 824 |
Allocation of facilities and IT expenses |  |  |  |  | 197 |  |  | 121 |
Total cost of product revenue |  |  |  |  | 1,422 |  |  | 2,644 |
Cost of biopharmaceutical and other revenue: |  |  |  |  |  |  |
Compensation expense |  |  |  |  | 1,240 |  |  | 1,462 |
Other cost of biopharmaceutical and other revenue (3) |  |  |  |  | 1,044 |  |  | 949 |
Allocation of facilities and IT expenses |  |  |  |  | 414 |  |  | 427 |
Total cost of biopharmaceutical and other revenue |  |  |  |  | 2,698 |  |  | 2,838 |
Intangible asset amortization - cost of revenue |  |  |  |  | 2,585 |  |  | 2,915 |
Gross profit |  |  |  |  | 79,508 |  |  | 62,468 |
Operating expenses: |  |  |  |  |  |  |
Research and development: |  |  |  |  |  |  |
Compensation expense |  |  |  |  | 9,748 |  |  | 9,085 |
Direct research and development expense |  |  |  |  | 4,141 |  |  | 3,874 |
Other research and development expenses (4) |  |  |  |  | 1,815 |  |  | 1,519 |
Allocation of facilities and IT expenses |  |  |  |  | 2,016 |  |  | 1,487 |
Total research and development |  |  |  |  | 17,720 |  |  | 15,965 |
Selling and marketing: |  |  |  |  |  |  |
Compensation expense |  |  |  |  | 17,635 |  |  | 17,622 |
Direct marketing expense |  |  |  |  | 710 |  |  | 1,138 |
Other selling and marketing expenses (5) |  |  |  |  | 3,853 |  |  | 3,414 |
Allocation of facilities and IT expenses |  |  |  |  | 2,256 |  |  | 1,608 |
Total selling and marketing |  |  |  |  | 24,454 |  |  | 23,782 |
General and administrative: |  |  |  |  |  |  |
Compensation expense |  |  |  |  | 20,173 |  |  | 17,759 |
Other general and administrative expenses (6) |  |  |  |  | 21,890 |  |  | 15,037 |
Allocation of facilities and IT expenses |  |  |  |  | (8,255) |  |  | (6,586) |
Total general and administrative |  |  |  |  | 33,808 |  |  | 26,210 |
Intangible asset amortization - operating expenses |  |  |  |  | 622 |  |  | 738 |
Other income, net |  |  |  |  | (4,524) |  |  | (2,748) |
Income tax provision (benefit) |  |  |  |  | 381 |  |  | (44) |
Net income (loss) |  |  |  |  | $ | 7,047 |  |  | $ | (1,864) |
________________ (1)Other cost of testing revenue includes cytopathology services, depreciation and amortization and other expenses. (2)Other cost of product revenue includes license fees and royalties, depreciation and amortization and other expenses. (3)Other cost of biopharmaceutical and other revenue includes license fees and royalties, depreciation and amortization and other expenses. (4)Other research and development expenses includes depreciation and amortization and other expenses. (5)Other selling and marketing expenses includes travel, entertainment, conference and other expenses. (6)Other general and administrative expenses includes professional fees, information technology expense, occupancy costs, depreciation and amortization, contingent consideration and other expenses.

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- Definition The entire disclosure for reporting segments including data and tables. 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