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SEGMENT INFORMATION | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION The Company operates and manages its business as one reportable operating segment which provides multi-cancer early detection testing and services. The Company's chief operating decision maker (“CODM”) is the chief executive officer. The chief operating decision maker reviews financial information on an aggregate basis for the purposes of evaluating financial performance and allocating resources based on net income (loss), adjusted gross margin and adjusted EBITDA. Net income (loss) is the measure of segment profit most consistent with U.S. GAAP that is regularly reviewed by the CODM to allocate resources and assess performance. The CODM does not evaluate operating segment performance using asset information. The following table is representative of the significant expense categories regularly provided to the CODM when managing the Company’s single reporting segment. A reconciliation to the consolidated net loss for the three and nine months ended September 30, 2025 and September 30, 2024 is included in the table below:
| Three Months Ended |  | Nine Months Ended
(in thousands) | September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
Revenue: |  |  |  |  |  |  |
Screening revenue | $ | 32,807 |  |  | $ | 25,374 |  |  | $ | 96,319 |  |  | $ | 77,076 |
Development services revenue | 3,387 |  |  | 3,278 |  |  | 7,256 |  |  | 10,267 |
Total revenue | 36,194 |  |  | 28,652 |  |  | 103,575 |  |  | 87,343 |
Costs and operating expenses: |  |  |  |  |  |  |
Cost of screening revenue (exclusive of amortization of intangible assets) (1)(2) | 15,910 |  |  | 15,970 |  |  | 52,379 |  |  | 45,481 |
Cost of development services revenue (1)(2) | 544 |  |  | 1,442 |  |  | 2,216 |  |  | 3,499 |
Compensation | 53,375 |  |  | 84,733 |  |  | 173,537 |  |  | 257,578 |
Depreciation and intangible assets amortization expense | 37,646 |  |  | 38,630 |  |  | 112,577 |  |  | 114,808 |
Stock-based compensation | 13,868 |  |  | 16,871 |  |  | 43,068 |  |  | 70,980 |
Professional services | 8,831 |  |  | 11,298 |  |  | 27,353 |  |  | 52,459 |
Cloud computing and information technology | 6,416 |  |  | 7,517 |  |  | 19,537 |  |  | 23,619 |
Clinical studies | 7,835 |  |  | 8,048 |  |  | 20,020 |  |  | 39,280 |
Laboratory supplies and research collaborations | 3,242 |  |  | 8,556 |  |  | 10,421 |  |  | 37,631 |
Facilities | 5,517 |  |  | 6,185 |  |  | 16,510 |  |  | 21,344 |
Other segment expenses (3) | 8,301 |  |  | 12,909 |  |  | 35,709 |  |  | 51,948 |
Goodwill and intangible assets impairment | — |  |  | — |  |  | 28,000 |  |  | 1,420,936 |
Total costs and operating expenses | 161,485 |  |  | 212,159 |  |  | 541,327 |  |  | 2,139,563 |
Loss from Operations | (125,291) |  |  | (183,507) |  |  | (437,752) |  |  | (2,052,220) |
Other income (expense): |  |  |  |  |  |  |
Interest income | 6,107 |  |  | 11,661 |  |  | 20,695 |  |  | 17,367 |
Other income (expense), net | 466 |  |  | (561) |  |  | (929) |  |  | (514) |
Benefit from income taxes | 29,741 |  |  | 46,719 |  |  | 108,811 |  |  | 105,428 |
Net Loss | $ | (88,977) |  |  | $ | (125,688) |  |  | $ | (309,175) |  |  | $ | (1,929,939) |
(1) Cost of screening revenue (exclusive of amortization of intangible assets) and cost of development services revenue include stock-based compensation expense. See Note 8 — Stock-Based Compensation for further details. (2) Cost of screening revenue (exclusive of amortization of intangible assets) and cost of development services revenue include $1.3 million and $4.9 million of depreciation expense for the three and nine months ended September 30, 2025 and $0.6 million and $3.8 million for the three and nine months ended September 30, 2024. (3) Other segment expenses primarily includes costs related to contractors and temporary labor, marketing expenses, legal expenses, and credit loss expense

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