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Reportable Segments and Geographic Information (Tables)

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Schedule of Information Regarding Operations and Assets for Operating Segments

Information regarding the Company’s operations and assets for its reportable segments as well as geographic information was as follows, all dollars are in thousands:

	Laboratory Services				Therapeutic Development				Total
Three Months Ended June 30, 2026
Revenue	$	85,359			$	30			$	85,389
Less:
Adjusted cost of revenue		58,617				8				58,625
Adjusted research and development		6,823				4,595				11,418
Adjusted selling and marketing		14,663				—				14,663
Adjusted general and administrative		22,698				391				23,089
Total adjusted operating loss	$	(17,442	)		$	(4,964	)		$	(22,406	)

	Laboratory Services				Therapeutic Development				Total
Six Months Ended June 30, 2026
Revenue	$	156,410			$	117			$	156,527
Less:
Adjusted cost of revenue		106,797				15				106,812
Adjusted research and development		13,284				8,773				22,057
Adjusted selling and marketing		26,239				—				26,239
Adjusted general and administrative		42,750				748				43,498
Total adjusted operating loss	$	(32,660	)		$	(9,419	)		$	(42,079	)

	Laboratory Services				Therapeutic Development				Total
Three Months Ended June 30, 2025
Revenue	$	81,803			$	—			$	81,803
Less:
Adjusted cost of revenue		45,631				—				45,631
Adjusted research and development		5,435				4,706				10,141
Adjusted selling and marketing		11,575				—				11,575
Adjusted general and administrative		21,970				170				22,140
Total adjusted operating loss	$	(2,808	)		$	(4,876	)		$	(7,684	)

	Laboratory Services				Therapeutic Development				Total
Six Months Ended June 30, 2025
Revenue	$	155,266			$	—			$	155,266
Less:
Adjusted cost of revenue		88,968				—				88,968
Adjusted research and development		10,366				8,696				19,062
Adjusted selling and marketing		19,150				—				19,150
Adjusted general and administrative		42,595				430				43,025
Total adjusted operating loss	$	(5,813	)		$	(9,126	)		$	(14,939	)

	Three Months Ended June 30,								Six Months Ended June 30,
	2026				2025				2026				2025
Reconciliation of “adjusted operating loss” to “loss before income taxes”
Adjusted operating loss	$	(22,406	)		$	(7,684	)		$	(42,079	)		$	(14,939	)
Less (add):
Equity-based compensation		8,624				10,039				18,514				20,589
Acquisition-related costs		17				—				2,649				—
Acquisition-related severance		251				—				647				—
Amortization of intangible assets		2,603				1,990				4,634				3,980
Impairment of intangible assets		2,172				—				2,172				—
Interest income		(6,404	)			(8,091	)			(15,055	)			(16,109	)
Interest expense		59				17				76				31
Impairment of equity securities		—				9,926				—				9,926
Other income, net		(38	)			(46	)			(48	)			(114	)
Total loss before income taxes	$	(29,690	)		$	(21,519	)		$	(55,668	)		$	(33,242	)

Significant items by segment excluded from the adjusted operating (loss) income were as follows:

	Three Months Ended June 30,								Six Months Ended June 30,
	2026				2025				2026				2025
Equity-based compensation
Laboratory services	$	6,501			$	8,034			$	14,142			$	16,566
Therapeutic development		2,123				2,005				4,372				4,023
Total	$	8,624			$	10,039			$	18,514			$	20,589

Revenue by segment was as follows:

	Three Months Ended June 30,								Six Months Ended June 30,
	2026				2025				2026				2025
Laboratory services:
Precision diagnostics	$	41,453			$	47,428			$	81,691			$	91,525
Anatomic pathology		37,497				28,122				62,577				53,422
BioPharma services		6,409				6,253				12,142				10,319
Total laboratory services		85,359				81,803				156,410				155,266
Therapeutic development:
BioPharma services		30				—				117				—
Total therapeutic development		30				—				117				—
Total	$	85,389			$	81,803			$	156,527			$	155,266

Depreciation and amortization by segment were as follows:

	Three Months Ended June 30,								Six Months Ended June 30,
	2026				2025				2026				2025
Laboratory services	$	7,528			$	5,889			$	13,385			$	11,644
Therapeutic development		148				165				291				329
Total	$	7,676			$	6,054			$	13,676			$	11,973

Interest income and expense by segment were as follows:

	Three Months Ended June 30,								Six Months Ended June 30,
	2026				2025				2026				2025
Laboratory services
Interest income	$	6,404			$	8,091			$	15,055			$	16,109
Interest expense		(59	)			(17	)			(76	)			(31	)
Therapeutic development
Interest income		—				—				—				—
Interest expense		—				—				—				—
Total	$	6,345			$	8,074			$	14,979			$	16,078

Total assets by segment were as follows:

	June 30, 2026				December 31, 2025
Laboratory services	$	982,893			$	1,096,379
Therapeutic development		106,330				117,146
Total	$	1,089,223			$	1,213,525

Summary of Revenue by Geographic Distribution

Geographic distribution of revenue was as follows:

	Three Months Ended June 30,								Six Months Ended June 30,
	2026				2025				2026				2025
United States	$	78,293			$	76,207			$	143,369			$	144,033
Foreign
China		3,081				2,407				5,640				5,018
Other countries		4,045				3,189				7,518				6,215
Total foreign		7,096				5,596				13,158				11,233
Total	$	85,389			$	81,803			$	156,527			$	155,266

Summary of Property, Plant and Equipment, Net by Geographic Distribution

Geographic distribution of property, plant and equipment, net was as follows:

	June 30, 2026				December 31, 2025
United States	$	106,991			$	106,250
Foreign
China		4,603				4,692
Other countries		1,474				1,607
Total foreign		6,077				6,299
Total	$	113,068			$	112,549

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