v3.25.2
Segment Information - Schedule of Segment Information, Including Significant Segment Expenses (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Segment Reporting Information [Line Items]        
Revenue $ 58,879 $ 43,190 $ 111,322 $ 85,063
Cost of revenue 17,999 19,317 34,978 37,368
Research and development 24,134 25,353 48,337 55,598
Sales and marketing 23,573 20,314 46,620 42,633
General and administrative 17,786 17,895 35,185 37,492
Share-based compensation expense (13,359) (12,958) (25,506) (27,256)
Restructuring expense [1]   (680)   (1,724)
Impairment of long-lived assets [1]   (7,205)   (7,205)
Depreciation and amortization expense (4,071) (4,571) (8,376) (9,354)
Other unallocated items [2] (6,058) (4,943) (12,169) (10,623)
Net loss (25,593) (46,248) (55,423) (93,781)
Operating Segments        
Segment Reporting Information [Line Items]        
Revenue 58,879 43,190 111,322 85,063
Cost of revenue 16,535 16,863 32,420 32,784
Research and development 24,134 25,353 48,337 55,598
Sales and marketing 21,954 18,658 43,367 39,043
General and administrative 10,131 9,976 19,633 20,632
Items to reconcile net loss to Adjusted EBITDA [3] 15,378 22,983 29,540 40,650
Adjusted EBITDA [3] (4,157) (18,322) (13,714) (42,508)
Operating Segments | MRD        
Segment Reporting Information [Line Items]        
Revenue 49,938 35,284 93,659 67,910
Cost of revenue 16,535 16,863 32,420 32,784
Research and development 8,498 10,045 17,657 22,969
Sales and marketing 21,954 18,658 43,367 39,043
General and administrative 10,131 9,976 19,633 20,632
Items to reconcile net loss to Adjusted EBITDA [3] 9,092 11,788 17,219 21,789
Adjusted EBITDA [3] 1,912 (11,289) (2,199) (28,548)
Operating Segments | Immune Medicine        
Segment Reporting Information [Line Items]        
Revenue 8,941 7,906 17,663 17,153
Research and development 15,636 15,308 30,680 32,629
Items to reconcile net loss to Adjusted EBITDA [3] 6,286 11,195 12,321 18,861
Adjusted EBITDA [3] (6,069) (7,033) (11,515) (13,960)
Operating Segments | MRD and Immune Medicine        
Segment Reporting Information [Line Items]        
Share-based compensation expense [4] (11,307) (10,527) (21,164) (22,367)
Unallocated Corporate        
Segment Reporting Information [Line Items]        
Other segment items [5] 5,660 13,645 10,819 20,164
Unallocated Corporate | MRD        
Segment Reporting Information [Line Items]        
Other segment items [5]   2,819   2,819
Unallocated Corporate | Immune Medicine        
Segment Reporting Information [Line Items]        
Other segment items [5] $ 5,660 $ 10,826 $ 10,819 $ 17,345
[1] Represents expenses recognized in conjunction with restructuring activities. See Note 12, Restructurings for details on our restructuring expense.
[2] Represents unallocated expenses and income not included in the measurements reviewed by the CODM to assess each segment's performance.
[3] Adjusted EBITDA is a non-GAAP financial measure. See “Management's Discussion and Analysis of Financial Condition and Results of Operations—Adjusted EBITDA” for an explanation of how it is calculated and used by management.
[4] Represents share-based compensation expense related to stock option, restricted stock unit and market-based restricted stock unit awards. See Note 11, Equity Incentive Plans for details on our share-based compensation expense.
[5] For the MRD segment, includes MRD expenses related to the impairment of long-lived assets. For the Immune Medicine segment, includes all Immune Medicine operating expenses, other than research and development expenses.