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Segment Information (Tables)

9 Months Ended

Sep. 30, 2025

Segment Information

Schedule of reportable segment information


		Three months ended September 30,						Nine months ended September 30,
		2025			2024			2025			2024
Revenue		$	7,491		$	13,512		$	24,543		$	43,881
Less:
Cost of revenue			580			1,075			2,106			3,342
Research and development ⁽¹⁾			1,106			1,165			3,642			3,695
Sales			913			1,439			2,804			4,460
Sales operations			754			697			2,281			2,260
General and administration			7,993			3,128			17,989			8,902
Litigation settlement expense			—			—			29,750			—
Depreciation and amortization			87			133			317			479
Other segment expenses ⁽²⁾			1,448			810			4,200			3,352
Segment operating (loss) profit		$	(5,390)		$	5,065		$	(38,546)		$	17,391

Interest income (expense), net			(338)			168			(214)			1,699
Interest on 2030 Senior Notes			(1,237)			—			(3,312)			—
Impairment of investments			—			—			(1,135)			—
Change in fair value of notes			—			—			—			128
Change in fair value of digital assets			28,490			1,137			70,422			(3,918)
Change in fair value of Bitcoin collateral			1,471			—			1,471			—
Gain on conversion of notes receivable			803			—			803			—
Other corporate income ⁽³⁾			4			5			7			8
Income before taxes			23,803			6,375			29,496			15,308
Income tax expense			6,901			766			10,364			3,615
Net income		$	16,902		$	5,609		$	19,132		$	11,693

1.

Research and development expenses include clinical affairs and HITRUST.

2.

Other segment expenses include marketing, customer education and business development.

3.

Other corporate income represents unallocated income.