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Segment Reporting
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company has determined that its chief executive officer ("CEO") is its chief operating decision maker ("CODM"). The Company’s CEO evaluates the financial performance of the Company based on two reportable segments: Software and Drug Discovery. The Software segment is focused on licensing the Company’s software to transform molecular discovery. The Drug Discovery segment is focused on building a portfolio of preclinical and clinical drug programs, internally and through collaborations.
The CODM reviews segment performance and allocates resources based upon segment revenue and segment gross profit of the Software and Drug Discovery reportable segments. Segment gross profit is derived by deducting cost of sales from U.S. GAAP revenue. Cost of sales are expenditures made that are directly attributable to the reportable segment. These expenditures are allocated to the segments based on headcount or by expenses directly incurred to support the Software or Drug Discovery segments. The reportable segment expenditures include compensation, supplies, and services from contract research organizations.
Certain cost items are not allocated to the Company’s reportable segments. These cost items primarily consist of non-drug discovery program related compensation and general operational expenses associated with the Company’s research and development, sales and marketing, and general and administrative. These costs are incurred by both segments and due to the integrated nature of the Company’s Software and Drug Discovery segments, any allocation methodology would be subjective and may not provide meaningful analysis.
Segment revenue is primarily earned in the United States and there are no intersegment revenues. Additionally, the Company reports assets on a consolidated basis and does not allocate assets to its reportable segments for purposes of assessing segment performance or allocating resources.
Presented below is financial information with respect to the Company’s reportable segments for the years presented:
Year Ended December 31,
202420232022
Segment revenues:
Software$180,365 $159,124 $135,578 
Drug discovery27,174 57,542 45,377 
Total segment revenues207,539 216,666 180,955 
Segment cost of revenues:
Software36,900 29,514 29,576 
Drug discovery38,556 46,460 50,357 
Total segment cost of revenues75,456 75,974 79,933 
Segment gross profit:
Software143,465 129,610 106,002 
Drug discovery(11,382)11,082 (4,980)
Total segment gross profit132,083 140,692 101,022 
Unallocated (expense) income:
Research and development(201,785)(181,766)(126,372)
Sales and marketing(39,917)(37,226)(30,642)
General and administrative(99,677)(99,148)(90,825)
Gain on equity investments— 147,213 11,825 
Change in fair value5,683 53,461 (18,084)
Other income17,902 19,693 3,953 
Income tax expense(1,412)(2,199)(63)
Consolidated net (loss) income$(187,123)$40,720 $(149,186)
Revenues by geographic area are determined based on the address provided by the Company's customers and partners. The following table sets forth revenues by geographic area for the years ended December 31, 2024, 2023, and 2022:
Year Ended December 31,
202420232022
United States$114,869 $161,961 $123,556 
APAC25,802 24,569 21,680 
EMEA65,650 29,135 34,451 
Rest of World1,218 1,001 1,268 
$207,539 $216,666 $180,955