v3.25.2
Segment and Related Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment and Related Information Segment and Related Information
The Company derives revenues through the delivery of test reports for our molecular diagnostic tests. All of our operations are located within the United States and our business is focused on the U.S. market.
We have a single reportable segment consisting of a single operating segment.
The measures of segment profit and loss for of our single reportable segment were as follows (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
Net revenues from external customers(1)
$86,188 $87,002 $174,176 $159,976 
Significant segment expenses:
Personnel costs51,551 48,051 103,751 93,967 
Organizational and business development costs14,487 11,835 28,716 22,835 
Inventory usage5,458 5,013 10,189 9,800 
Clinical studies and publication costs1,923 3,177 4,008 5,814 
Professional services2,298 2,420 5,874 5,544 
Other segment items5,948 7,586 42,963 15,630 
Segment income (loss)$4,523 $8,920 $(21,325)$6,386 
(1)For information on disaggregation of segment revenue by type and information about payor concentration, see Note 3.

Other Segment Items
Other segment items include all other operating expenses types to included IT service and software licensing costs, fixed and variable expenses incurred for leasing of facilities and equipment, depreciation and amortization, gain or losses on disposal of fixed assets in the routine course of business, fair value adjustment for trading securities, realized gains or losses on investment securities, administrative costs, expense for use of prepaids to include insurance premiums and warranties for lab equipment, public company costs (less audit fees), interest and other non-operating income, and income tax expense or benefits. Our CODM does not individually review budgets or results for these activities.
Other amounts included in the measure of segment profit or loss were as follows (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
Interest income$2,944 $3,144 $6,043 $6,140 
Interest expense$(21)$(270)$(38)$(284)
Depreciation and amortization$3,414 $3,348 $33,178 $6,688 
Income tax benefit$(4,666)$(1,034)$(5,089)$(989)
Stock-based compensation expense$11,208 $13,179 $22,387 $25,854 
Changes in fair value of trading securities$1,185 $— $(240)$— 

Total assets for our reportable segment were located in the United States and were $544.7 million and $531.2 million as of June 30, 2025 and December 31, 2024, respectively. Expenditures for additions to long-lived assets were $12.9 million and $6.7 million for the three months ended June 30, 2025 and 2024, respectively, $18.6 million and $15.3 million for the six months ended June 30, 2025, and 2024, respectively.