XML 28 R17.htm IDEA: XBRL DOCUMENT v3.25.2
Segment
6 Months Ended
Jun. 30, 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 June 30,Six Months Ended June 30,
2025202420252024
Revenue:
Testing revenue$122,263 $106,970 $229,572 $197,273 
Product revenue3,598 3,906 7,178 7,443 
Biopharmaceutical and other revenue4,303 3,552 7,887 6,556 
Total revenue130,164 114,428 244,637 211,272 
Cost of revenue:
Cost of testing revenue:
Laboratory supplies and reagents expense15,304 13,326 28,369 25,244 
Sample collection expense3,494 3,164 6,320 6,221 
Compensation expense6,023 5,139 11,634 10,354 
Other cost of testing revenue (1)4,173 3,479 7,559 6,325 
Allocation of facilities and IT expenses3,413 2,812 6,785 5,755 
Total cost of testing revenue32,407 27,920 60,667 53,899 
Cost of product revenue:
Product costs705 628 813 1,891 
License fees and royalties307 314 631 751 
Other cost of product revenue (2)515 800 1,309 1,623 
Allocation of facilities and IT expenses222 132 418 253 
Total cost of product revenue1,749 1,874 3,171 4,518 
Cost of biopharmaceutical and other revenue:
Compensation expense1,652 2,072 2,892 3,533 
Other cost of biopharmaceutical and other revenue (3)1,462 1,271 2,506 2,221 
Allocation of facilities and IT expenses458 469 872 896 
Total cost of biopharmaceutical and other revenue3,572 3,812 6,270 6,650 
Intangible asset amortization - cost of revenue2,667 2,909 5,252 5,824 
Gross profit89,769 77,913 169,277 140,381 
Operating expenses:
Research and development:
Compensation expense9,063 8,365 18,812 17,450 
Direct research and development expense3,292 5,243 7,434 9,117 
Other research and development expenses (4)1,880 1,339 3,692 2,857 
Allocation of facilities and IT expenses2,029 1,518 4,046 3,006 
Total research and development16,264 16,465 33,984 32,430 
Selling and marketing:
Compensation expense17,601 17,081 35,236 34,703 
Direct marketing expense1,478 2,048 2,188 3,186 
Other selling and marketing expenses (5)3,696 3,212 7,549 6,627 
Allocation of facilities and IT expenses2,541 1,875 4,797 3,482 
Total selling and marketing25,316 24,216 49,770 47,998 
General and administrative:
Compensation expense21,260 23,107 41,433 40,866 
Other general and administrative expenses (6)19,734 15,444 41,624 30,481 
Allocation of facilities and IT expenses(8,663)(6,806)(16,918)(13,392)
Total general and administrative32,331 31,745 66,139 57,955 
Impairment of assets20,505 — 20,505 429 
Intangible asset amortization - operating expenses621 881 1,243 1,619 
Other income, net(6,518)(2,755)(11,042)(5,503)
Income tax provision2,230 1,627 2,611 1,583 
Net income (loss)$(980)$5,734 $6,067 $3,870 
________________

(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.