Stock Incentive Plans

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

STOCK INCENTIVE PLANS

As of March 31, 2026, the Company had a total of 1,855,798 shares available for grant under its 2016 Inducement Equity Incentive Plan, 2019 Inducement Equity Incentive Plan, 2024 Equity Incentive Plan and 2025 Equity Incentive Plan.

Stock Options

There were no stock options granted to employees during the three months ended March 31, 2026.

The following table summarizes stock option activity during the three months ended March 31, 2026:


	Number of Shares	Weighted- Average Exercise Price
Stock options outstanding at December 31, 2025	2,478,871	$	20.47

Exercised	(28,709)	3.80
Forfeited	(176)	32.55
Expired	(16,302)	27.68
Stock options outstanding at March 31, 2026	2,433,684	20.62
Stock options exercisable at March 31, 2026	1,888,290	$	22.47

Restricted Stock Units and Performance Restricted Stock Units

The following table summarizes restricted stock units, or RSUs, and performance restricted stock units, or PSUs, activity during the three months ended March 31, 2026:


	Number of Shares	Weighted- Average Grant Date Fair Value
RSUs and PSUs outstanding at December 31, 2025	3,930,939	$	15.54
RSUs granted	964,087	19.91
RSUs vested	(268,315)	13.72
RSUs forfeited	(141,627)	16.67
PSUs granted	546,500	20.42
PSUs vested	(118,304)	18.99
PSUs forfeited	(58,896)	18.73
RSUs and PSUs outstanding at March 31, 2026	4,854,384	$	16.89

The Company granted PSUs under the stock incentive plans. The PSUs granted to employees include financial and operational vesting metrics to be met over a performance period of two years. The number of shares, based on expected performance achievement, underlying outstanding PSUs was 627,792 and 226,183 as of March 31, 2026 and December 31, 2025, respectively.

During the three months ended March 31, 2026, the Company granted 546,500 PSUs (“2026 PSUs”) to employees with an aggregate grant date fair value of $11.2 million at target achievement. The 2026 PSUs provide for a performance period from February 1, 2026 through January 31, 2029 to achieve a defined performance metric. The percentage of 2026 PSUs eligible to vest will be determined based on the metric achieved during the performance period and may range from 0% to 200%. As of March 31, 2026, the achievement of the metric was probable, resulting in expense recognition of $1.7 million for the three months ended March 31, 2026. Compensation expense is being recognized from the grant date through the final vest date of January 31, 2029. The PSU expense for the three months ended March 31, 2025 was $0.2 million related to PSUs granted in prior periods.

2014 Employee Stock Purchase Plan

The Company has an Employee Stock Purchase Plan (the “ESPP”), under which employees can purchase shares of its common stock based on a percentage of their compensation, but not greater than 15% of their respective earnings, provided that an

eligible employee’s right to purchase shares of the Company’s common stock may not accrue at a rate which exceeds $25,000 of the fair market value of such shares for each calendar year in which such rights are outstanding. The ESPP has consecutive offering periods of approximately six months in length. The purchase price per share must be equal to the lower of 85% of the fair value of the common stock on the first day of the offering period or on the exercise date.

During the offering period in 2025 that ended on December 31, 2025, 61,866 shares were purchased pursuant to the ESPP for aggregate proceeds of $1.0 million from the issuance of such shares, which occurred on January 2, 2026.

Stock-Based Compensation Expense

The following table summarizes stock-based compensation expense relating to employee and non-employee stock-based awards for the three months ended March 31, 2026 and 2025, included in the condensed consolidated statements of operations as follows (in thousands):


	Three Months Ended March 31,
	2026		2025
Cost of testing services	$	265	$	363
Cost of product	89		231
Cost of patient and digital solutions	134		220
Research and development	1,323		1,359
Sales and marketing	1,835		2,584
General and administrative	6,157		4,174
Total	$	9,803	$	8,931

As of March 31, 2026, unrecognized stock-based compensation expense related to stock options, RSUs, and PSUs was approximately $4.6 million, $41.3 million, and $11.9 million, respectively. The remaining unrecognized compensation cost related to the unvested stock options, RSUs, and PSUs is expected to be recognized over a weighted-average period of 1.98 years, 2.15 years, and 2.58 years, respectively.