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SEGMENT AND GEOGRAPHIC INFORMATION
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
SEGMENT AND GEOGRAPHIC INFORMATION
NOTE 9. 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:
Three Months Ended March 31,
(In thousands)
20252024
Total revenue37,153 38,810 
Less:
Cost of revenue38,524 27,528 
Research and development29,053 43,455 
Sales and marketing20,076 22,537 
General and administrative20,092 21,216 
Impairment charges15,000 — 
Change in fair value of contingent consideration(18,700)(70)
Amortization of acquired intangible assets362,042 5,506 
Other income, net
2,557 3,184 
Income tax provision
(302)— 
Consolidated net loss(426,075)(78,178)
A summary of our revenue by geographic location is as follows:
Three Months Ended March 31,
(In thousands)
20252024
Americas$16,303 $17,678 
Europe, Middle East and Africa9,240 8,356 
Asia-Pacific11,610 12,776 
Total $37,153 $38,810 
A summary of our revenue by category is as follows:
Three Months Ended March 31,
(In thousands)
20252024
Instrument revenue$11,016 $19,025 
Consumable revenue20,097 15,984 
Product revenue31,113 35,009 
Service and other revenue6,040 3,801 
Total revenue$37,153 $38,810