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Segment Information (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Information, Including Significant Segment Expenses

The following tables set forth our segment information, including significant segment expenses that are (or are easily computable from) information regularly provided to our CODM, for the three and nine months ended September 30, 2025 and 2024, respectively (in thousands):

		Three Months Ended September 30, 2025												Three Months Ended September 30, 2024
		MRD				Immune Medicine				Total				MRD				Immune Medicine				Total
Revenue		$	56,788			$	37,185			$	93,973			$	37,470			$	8,965			$	46,435
Less:
Cost of revenue			17,303			*					17,303				14,956			*					14,956
Research and development			8,956				14,713				23,669				9,199				14,964				24,163
Sales and marketing			21,832			*					21,832				18,761			*					18,761
General and administrative			10,739			*					10,739				9,622			*					9,622
Other segment items(1)			—				4,935				4,935				—				5,725				5,725
Add back:
Items to reconcile net loss or net income to Adjusted EBITDA(2)			9,007				6,169				15,176				8,948				6,512				15,460
Adjusted EBITDA(2)			6,965				23,706				30,671				(6,120	)			(5,212	)			(11,332	)
Items to reconcile to consolidated net income (loss):
Share-based compensation expense(3)											(11,204	)											(11,111	)
Restructuring expense(4)											—												(193	)
Depreciation and amortization expense											(3,972	)											(4,156	)
Other unallocated items(5)											(5,950	)											(5,305	)
Net income (loss)										$	9,545											$	(32,097	)
*Non-significant segment expenses for Immune Medicine.

		Nine Months Ended September 30, 2025												Nine Months Ended September 30, 2024
		MRD				Immune Medicine				Total				MRD				Immune Medicine				Total
Revenue		$	150,447			$	54,848			$	205,295			$	105,380			$	26,118			$	131,498
Less:
Cost of revenue			49,723			*					49,723				47,740			*					47,740
Research and development			26,613				45,393				72,006				32,168				47,593				79,761
Sales and marketing			65,199			*					65,199				57,804			*					57,804
General and administrative			30,372			*					30,372				30,254			*					30,254
Other segment items(1)			—				15,754				15,754				2,819				23,070				25,889
Add back:
Items to reconcile net loss to Adjusted EBITDA(2)			26,226				18,490				44,716				30,737				25,373				56,110
Adjusted EBITDA(2)			4,766				12,191				16,957				(34,668	)			(19,172	)			(53,840	)
Items to reconcile to consolidated net loss:
Share-based compensation expense(3)											(32,368	)											(33,478	)
Restructuring expense(4)											—												(1,917	)
Impairment of long-lived assets(4)											—												(7,205	)
Depreciation and amortization expense											(12,348	)											(13,510	)
Other unallocated items(5)											(18,119	)											(15,928	)
Net loss										$	(45,878	)										$	(125,878	)
*Non-significant segment expenses for Immune Medicine.

(1) For the MRD segment, includes MRD expenses related to the impairment of long-lived assets. For the Immune Medicine segment, includes all Immune Medicine operating expenses, other than research and development expenses.

(2) Adjusted EBITDA is a non-GAAP financial measure. See “Management's Discussion and Analysis of Financial Condition and Results of Operations—Adjusted EBITDA” for an explanation of how it is calculated and used by management.

(3) Represents share-based compensation expense related to stock option, restricted stock unit and market-based restricted stock unit awards. See Note 11, Equity Incentive Plans for details on our share-based compensation expense.

(4) Represents expenses recognized in conjunction with restructuring activities. See Note 12, Restructurings for details on our restructuring expense.

(5) Represents unallocated expenses and income not included in the measurements reviewed by the CODM to assess each segment's performance.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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