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Business Segment Information
 9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Business Segment Information

12. Business Segment Information

Our business consists of two segments: our “Diagnostics” business, which primarily consists of the development, manufacture, marketing and sale of oral fluid diagnostic products and specimen collection devices using our proprietary technologies, other diagnostic products including immunoassays and other in vitro diagnostic tests that are used on other specimen types. Our Diagnostics segment includes the financial results of UrSure. Our “Molecular Solutions” business consists of the development, manufacture, marketing and sale of specimen collection kits that are used to collect, stabilize, transport and store samples of genetic material for molecular testing. Our collection kits are also used for the collection of first-void urine for liquid biopsy in the prostate and bladder cancer markets; and in the sexually transmitted infection screening market. In addition, our Molecular Solutions business provides microbiome laboratory services that accelerate research and discovery for customers in the pharmaceutical, agricultural, and academic research markets. Financial results of Diversigen and Novosanis are included in our Molecular Solutions segment.

We organized our operating segments according to the nature of the products included in those segments. The accounting policies of the segments are the same as those described in the summary of significant accounting policies (see Note 2). We evaluate performance of our operating segments based on revenue and operating income. We do not allocate interest income, interest expense, other income, other expenses or income taxes to our operating segments. Reportable segments have no inter-segment revenues and inter-segment expenses have been eliminated.

The following table summarizes operating segment information for the three and nine months ended September 30, 2021 and 2020, and asset information as of September 30, 2021 and December 31, 2020:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Net revenues:

 

 

 

 

 

 

 

 

 

 

 

 

Diagnostics

 

$

23,511

 

 

$

16,314

 

 

$

57,368

 

 

$

44,533

 

Molecular Solutions

 

 

30,406

 

 

 

31,697

 

 

 

112,738

 

 

 

64,333

 

Total

 

$

53,917

 

 

$

48,011

 

 

$

170,106

 

 

$

108,866

 

Operating income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

Diagnostics

 

$

(18,638

)

 

$

(9,951

)

 

$

(42,755

)

 

$

(31,116

)

Molecular Solutions

 

 

5,625

 

 

 

14,336

 

 

 

41,962

 

 

 

18,054

 

Total

 

$

(13,013

)

 

$

4,385

 

 

$

(793

)

 

$

(13,062

)

Depreciation and amortization:

 

 

 

 

 

 

 

 

 

 

 

 

Diagnostics

 

$

1,136

 

 

$

934

 

 

$

2,965

 

 

$

2,448

 

Molecular Solutions

 

 

2,199

 

 

 

1,517

 

 

 

5,514

 

 

 

4,432

 

Total

 

$

3,335

 

 

$

2,451

 

 

$

8,479

 

 

$

6,880

 

Capital expenditures:

 

 

 

 

 

 

 

 

 

 

 

 

Diagnostics

 

$

3,647

 

 

$

2,186

 

 

$

19,797

 

 

$

5,634

 

Molecular Solutions

 

 

932

 

 

 

3,011

 

 

 

7,711

 

 

 

5,600

 

Total

 

$

4,579

 

 

$

5,197

 

 

$

27,508

 

 

$

11,234

 

 

 

 

 

September 30, 2021

 

 

December 31, 2020

 

Total assets:

 

 

 

 

 

 

Diagnostics

 

$

206,668

 

 

$

242,613

 

Molecular Solutions

 

 

249,089

 

 

 

211,859

 

Total

 

$

455,757

 

 

$

454,472