v3.25.2
Segment Reporting
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker (CODM) in making decisions regarding resource allocation and assessing performance. The Company views its operations as, and manages its business in, one operating segment focused on the design, development and commercialization of testing products which allow for the differential diagnosis, prognosis and monitoring of complex rheumatic, autoimmune and autoimmune-related disease. Segment revenue is primarily derived from the sale of the Company’s testing products, most of which is attributable to its AVISE® CTD test.
The Company’s CODM is its Chief Executive Officer. The CODM assesses performance for the segment and decides how to allocate resources based on revenue and net loss as reported on the condensed statements of operations, after taking into account the Company’s strategic priorities, its cash balance and its expected use of cash. The CODM considers budget/forecast versus actual results on a quarterly basis when making decisions about the allocation of resources. The measure of segment assets is reported on the balance sheet as total assets and were $58.8 million and $44.7 million as of June 30, 2025 and December 31, 2024, respectively.
Segment revenue and net loss, including significant segment expenses regularly provided to the CODM are as follows (in thousands):
 Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Revenue$17,202 $15,064 $32,700 $29,479 
Cost of revenue6,807 6,008 13,182 11,825 
Gross margin10,395 9,056 19,518 17,654 
Segment operating expenses:
Employee expense7,535 6,723 15,083 13,415 
Outside services1,347 1,058 2,464 2,189 
Facilities related918 973 1,818 1,965 
Travel & entertainment715 587 1,451 1,120 
Stock compensation384 521 745 1,057 
Depreciation and amortization270 261 529 531 
Other1
1,856 1,520 3,423 2,967 
Total segment operating expenses13,025 11,643 25,513 23,244 
Loss from operations(2,630)(2,587)(5,995)(5,590)
Interest expense(1,124)(560)(1,669)(1,109)
Loss on extinguishment of debt(295)— (295)— 
Change in fair value of warrant liability(438)— (438)— 
Interest income85 181 243 373 
Loss before income taxes(4,402)(2,966)(8,154)(6,326)
Income tax expense(37)— (37)— 
Segment net loss$(4,439)$(2,966)$(8,191)$(6,326)
1Other segment items included in Segment net loss include insurance expenses, trade show and conference expenses, fulfillment expenses, board compensation, clinical trial expenses, collaboration expenses and bank fees, among others.