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SEGMENT AND GEOGRAPHIC INFORMATION
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SEGMENT AND GEOGRAPHIC INFORMATION
NOTE 11. SEGMENT AND GEOGRAPHIC INFORMATION
We are organized as, and operate in, one reportable segment: the development, manufacturing, and marketing of integrated platforms for genetic analysis. Our chief operating decision-maker (CODM) is our Chief Executive Officer. Our CODM reviews financial information presented on a consolidated basis for the purposes of evaluating financial performance and allocating resources.
On a regular basis, our CODM reviews:
•total revenues by category
•total expenses and expenses by function, including sales and marketing and general and administrative, which include depreciation and share-based compensation
•net loss per share
Our assets are primarily located in the United States of America and not allocated to any specific region, and we do not measure the performance of geographic regions based upon asset-based metrics. Therefore, geographic information is presented only for revenue.
A summary of the segment profit or loss, including significant segment expenses is as follows:
Years Ended December 31,
(in thousands)
202420232022
Total revenue154,014 200,521 128,304 
Less:
Cost of revenue116,732 147,741 79,269 
Research and development134,922 187,170 193,000 
Sales and marketing87,244 79,287 84,465 
General and administrative87,773 90,531 76,389 
Impairment charges184,500 — — 
Merger-related expenses— 9,042 — 
Change in fair value of contingent consideration(850)15,060 2,377 
Amortization of acquired intangible assets18,006 6,157 — 
Loss on extinguishment of debt— 2,033 — 
Gain on debt restructuring(154,407)— — 
Other income (expense), net10,371 18,341 (7,052)
Income tax provision (benefit)316 (11,424)— 
Consolidated net loss(309,851)(306,735)(314,248)
A summary of our revenue by geographic location is as follows:
Years Ended December 31,
(in thousands)202420232022
Americas (1)
$78,711 $105,410 $69,561 
Europe, Middle East, and Africa34,594 40,658 22,598 
Asia-Pacific40,709 54,453 36,145 
Total $154,014 $200,521 $128,304 
(1)     Includes United States revenue of $75.3 million, $100.5 million, and $66.8 million for the years ended December 31, 2024, 2023, and 2022, respectively.
A summary of our revenue by category is as follows:
 Years Ended December 31,
(in thousands)202420232022
Instrument revenue$65,776 $120,451 $48,719 
Consumable revenue70,373 63,421 59,980 
Product revenue136,149 183,872 108,699 
Service and other revenue17,865 16,649 19,605 
Total revenue$154,014 $200,521 $128,304