XML 30 R19.htm IDEA: XBRL DOCUMENT v3.26.1
Segment Reporting
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting SEGMENT REPORTING
Operating segments are defined as components of an enterprise for which separate financial information is available that is evaluated regularly by the Company’s Chief Operating Decision Maker, or CODM, or decision making group, whose function is to allocate resources to and assess the performance of the operating segments. The Company has identified its President and Chief Executive Officer as the CODM. In determining its reportable segments, the Company considered the markets and types of customers served and the products or services provided in those markets. The Company has determined that it has one operating segment and, therefore, one reportable segment.
Revenue by geographic regions are based upon the customers’ ship-to address for product revenue, the region of testing for testing services revenue and the region where the performance obligation is satisfied for patient and digital solutions revenue. The following table summarizes reportable revenue by geographic regions (in thousands):
Three Months Ended March 31,
20262025
Testing services revenue
United States$91,029 $61,438 
Rest of World369 483 
$91,398 $61,921 
Product revenue
United States$6,694 $6,507 
Rest of World3,652 4,303 
$10,346 $10,810 
Patient and digital solutions revenue
United States$15,923 $11,920 
Rest of World33 34 
$15,956 $11,954 
Total revenue
Total United States$113,646 $79,865 
Total Rest of World4,054 4,820 

$117,700 $84,685 
The following table summarizes long-lived assets, consisting of property and equipment, net, by geographic regions (in thousands):
March 31, 2026December 31, 2025
Long-lived assets:
United States$32,748 $32,635 
Rest of World408 336 
Total$33,156 $32,971 
The CODM assesses the Company’s performance by using net income (loss). The CODM uses net income (loss) predominately in the annual budget and forecasting process. The Company’s objective in making resource allocation decisions is to optimize the consolidated financial results. The CODM considers budget-to-actual variances on a quarterly basis for the profit measure when making decisions. The CODM organizes the business and leaders functionally. The CODM assesses performance and resources are allocated to functions which utilize those allocations across the business's testing services, products and digital solutions offerings.
The following table summarizes the reconciliation to net income (loss) (in thousands):
Three Months Ended March 31,
20262025
Revenue:
Testing services revenue
$91,398 $61,921 
Product revenue
10,346 10,810 
Patient and digital solutions revenue
15,956 11,954 
Total revenue
117,700 84,685 
Less:
Cost of testing services1
16,521 14,403 
Cost of product1
4,233 4,943 
Cost of patient and digital solutions1
11,412 7,344 
Personnel cost
42,188 30,743 
Professional and legal fees
7,912 10,192 
Research materials and clinical trials expense
3,831 3,174 
Depreciation and amortization expense
3,119 2,950 
Stock-based compensation expense
9,767 8,931 
Litigation settlement expense
600 5,360 
Business development and portfolio optimization expense2
3,357 — 
Other segment items3
13,860 9,781 
Interest income, net
(1,909)(2,783)
Segment and condensed consolidated net income (loss)
$2,809 $(10,353)
1 Cost of testing services, cost of product and cost of patient and digital solutions include depreciation expense.
2 Business development and portfolio optimization expense primarily includes legal, consulting, financial advisory, due diligence, and other transaction-related costs incurred in connection with business development activities and the sale of our lab product business.
3 Other segment items include the following: acquisition costs, software expenses, corporate expenses, rent and maintenance expense, travel and event related expense, and other expenses (income).