v3.26.1
Segment Reporting
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting
Note 17. Segment Reporting
Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision-maker (“CODM”) in deciding how to allocate resources and assess performance. The Company’s CODM is the chief executive officer.
The Company continues to operate as one reportable segment as of March 31, 2026. This operating segment is focused on the development and commercialization of comprehensive protein biomarker solutions that identify signatures in blood and tissue to provide insights to providers, patients, and research organizations.
The Company utilizes consolidated net loss as the measure of segment profitability (loss) as required by ASU 2023-07 - Segment Reporting (Topic 280). The CODM uses this measure, along with the significant revenue and expense lines included in the table below, when analyzing the Company’s operations and performance and determining how to allocate resources. These measures are consistently used by the CODM in comparing budgeted results versus actuals, in determining when or where to invest resources into specific areas of the business, and for decisions on strategic initiatives, all of which is assessed at the consolidated level.
The following table presents the reconciliation of significant segment information reviewed by the CODM to consolidated net loss:
Three Months Ended March 31,
20262025
Total revenues (1)$36,415 $30,333 
Less:
Costs of goods sold and services20,849 15,495 
Certain operating expenses (2)37,093 41,204 
Other segment items (3)(3,986)(5,862)
Consolidated net loss$(17,541)$(20,504)
(1)Revenue generated from contracts outside of ASC 606 was not material for the three months ended March 31, 2026 and 2025.
(2)Consists of research and development and selling, general and administrative expenses from the Consolidated Statements of Operations.
(3)Other segment items represent discrete events, non-recurring transactions, or insignificant items that are not used by the CODM to evaluate the Company’s performance or allocate resources, and include:
a.Impairment and restructuring costs – impairment charges for IPR&D, goodwill, and other long-lived assets, and costs associated with approved restructuring plans, including employee separation costs and any associated costs related to implementing a restructuring plan, and vacant leased facilities;
b.Change in fair value of contingent liabilities – changes in the fair value of contingent payments as a result of updated valuation inputs;
c.Interest income – interest earned on cash, cash equivalents, and marketable securities, and the accretion of discounts on marketable securities;
d.Other income, net – gains and losses on foreign currency, and other non-recurring items that are not a part of the Company’s core business operations; and
e.Income tax benefit (expense) – income taxes related to federal, state, and foreign jurisdictions in which the Company conducts business.
The CODM also reviews consolidated balance sheet accounts and activity including cash usage and other working capital changes using the balances as reported on the Consolidated Balance Sheets.
Other than the change in accounting policy for shipping and handling costs (refer to Note 2 - Significant Accounting Policies), there have been no changes to the methods used to determine segment profit or loss or the significant segment captions across any of the periods presented.