PrognomiQ constitutes a related party and, as of March 31, 2025 and December 31, 2024, the Company recorded $52.2 thousand and $0.4 million in related party receivables, respectively, on the condensed consolidated balance sheets mainly due from product sales and services revenue. For the three months ended March 31, 2025 and 2024, the Company recognized revenue of $51.9 thousand and $1.0 million, respectively, of which $5.4 thousand and $0.8 million were from product sales. This is presented as related party revenue on the unaudited condensed consolidated statements of operations and comprehensive loss.

On August 12, 2024, the Company entered into a preferred stock purchase agreement with PrognomiQ, pursuant to which the Company purchased $10.0 million of PrognomiQ's Series D Preferred Stock. The investment is accounted for as an equity security in accordance with ASC 321.

As of March 31, 2025, the carrying value of the investment was $5.8 million and is included in other assets on the unaudited condensed consolidated balance sheets. The carrying value is adjusted to the Company's share in loss in the equity method investment. There were no impairment and recognized gains or losses to the carrying value for the three months ended March 31, 2025.