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Significant Customers Concentrations | 12 Months Ended
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Dec. 31, 2024
Risks and Uncertainties [Abstract] |
Significant Customers Concentrations | Significant Customers Concentrations Revenue for years ended December 31, 2024 and 2023 was $6.8 million and $35.0 million, respectively. The Company had no Diagnostic Services for the year ended December 31, 2024 and Diagnostic Services accounted for 71% of the Company's net revenue for the year ended December 31, 2023. The Company decreased its diagnostic services business since the second half of 2023 due to the significant decrease in demand for our diagnostic testing services. For the year ended December 31, 2024 and 2023, there were no consumer products customers that accounted for 10% or more of our total revenues. Collections of diagn ostic services revenues are driven by payers, which are government agencies (primarily HRSA), insurance providers, and client pay ers. For the year ended December 31, 2024, requisitions from government agencies including Medicaid and Medicare were approximately 19% and 81%, respectively. For the year ended December 31, 2023, requisitions from government agencies including Medicaid and Medicare were approximately 17% and insurance providers were 83%. The Company is subject to account receivable credit concentrations from time-to-time as a result of the timing, payment pattern and ultimate purchase volumes or shipping schedules with our customers. These concentrations may impact its overall exposure to credit risk, either positively or negatively, in that our customers may be similarly affected by changes in economic, regulatory or other conditions that may impact the timing and collectability of amounts due to the Company. Three diagnostic services payers generated 34.8%, 19.3% and 5.3% of our total reimbursement receivable balances from government agencies and healthcare issuers at December 31 2024, and 32.6%, 18.7% and 12.6% of our total reimbursement receivable balances from government agencies and healthcare issuers at December 31 2023. Currently, the Company relies on a sole supplier to manufacture its saliva collection kits used by customers who purchase its personal genomics services. Change in the supplier or design of certain of the materials that the Company relies on, in particular the saliva collection kit, could result in a requirement for additional premarket review from the FDA before making such a change.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/275/tableOfContent + Details
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