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REVENUE | 6 Months Ended
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Jun. 30, 2025
Revenue from Contract with Customer [Abstract] |
REVENUE | REVENUE The Company primarily generates revenue by performing molecular diagnostic testing. Revenue is recorded at the estimated transaction price. Control is transferred and revenue is recognized once test results are released to the healthcare provider and/or patient. The following table presents details regarding the composition of the Company’s total revenue by product type and by geographical region, either U.S. or rest of world (“RoW”):
| Three months ended June 30,
| 2025 |  |  | 2024
(in millions) | U.S. |  | RoW |  | Total |  |  | U.S. |  | RoW |  | Total
Hereditary Cancer | $ | 84.6 |  |  | $ | 11.7 |  |  | $ | 96.3 |  |  |  | $ | 80.9 |  |  | $ | 10.6 |  |  | $ | 91.5 |
Tumor Profiling | 28.3 |  |  | 3.1 |  |  | 31.4 |  |  |  | 26.7 |  |  | 5.9 |  |  | 32.6 |
Prenatal | 47.5 |  |  | 0.1 |  |  | 47.6 |  |  |  | 44.2 |  |  | 0.2 |  |  | 44.4 |
Pharmacogenomics | 37.8 |  |  | — |  |  | 37.8 |  |  |  | 43.0 |  |  | — |  |  | 43.0 |
Total revenue | $ | 198.2 |  |  | $ | 14.9 |  |  | $ | 213.1 |  |  |  | $ | 194.8 |  |  | $ | 16.7 |  |  | $ | 211.5 |
| Six months ended June 30,
| 2025 |  |  | 2024
(in millions) | U.S. |  | RoW |  | Total |  |  | U.S. |  | RoW |  | Total
Hereditary Cancer | $ | 160.0 |  |  | $ | 22.6 |  |  | $ | 182.6 |  |  |  | $ | 157.2 |  |  | $ | 22.4 |  |  | $ | 179.6 |
Tumor Profiling | 54.3 |  |  | 6.4 |  |  | 60.7 |  |  |  | 50.6 |  |  | 12.9 |  |  | 63.5 |
Prenatal | 96.7 |  |  | 0.2 |  |  | 96.9 |  |  |  | 88.3 |  |  | 0.4 |  |  | 88.7 |
Pharmacogenomics | 68.8 |  |  | — |  |  | 68.8 |  |  |  | 81.9 |  |  | — |  |  | 81.9 |
Total revenue | $ | 379.8 |  |  | $ | 29.2 |  |  | $ | 409.0 |  |  |  | $ | 378.0 |  |  | $ | 35.7 |  |  | $ | 413.7 |
In determining the transaction price, the Company includes an estimate of the expected amount of consideration to be received. The estimate of revenue is affected by, among other factors, assumptions for changes in payor mix, payor collections, current customer contractual requirements, experience with collections from third-party payors, and changes in medical policies. When assessing the total consideration for insurance carriers and patients, revenue is further constrained for estimated refunds. The Company reserves certain amounts in Accrued liabilities in the Condensed Consolidated Balance Sheets in anticipation of requests for refunds of payments made previously by insurance carriers, which are accounted for as reductions in revenue in the Condensed Consolidated Statements of Operations and Comprehensive Loss. Cash collections for certain tests delivered may differ from rates estimated due to changes in the estimated transaction price for contractual adjustments, obtaining updated information from payors and patients that was unknown at the time the performance obligation was met, settlements with third-party payors, or as a result of third-party payors disputing bills or denying payment for tests that the Company has performed, among other reasons. As a result of this new information, the Company updates its estimate of the amounts to be recognized for previously delivered tests. During the three and six months ended June 30, 2025 and during the three months ended June 30, 2024, the impact of the amounts to be recognized for tests in which the performance obligation was met in a prior period was not material to the Condensed Consolidated Statements of Operations. During the six months ended June 30, 2024, the Company recognized $9.3 million in revenue for tests in which the performance obligation was met in a prior period, including $3.0 million in revenue due to a retroactive coverage change by a payor for one of its prenatal products.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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