v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company operates under a single segment based on an analysis of the Company's reporting structure, the information available to the Chief Operating Decision Maker (“CODM”), and the strategic decisions being made by management. The Company provides services to a diverse client base, which includes community-based pathology and oncology practices, hospital pathology labs, reference labs, academic centers, and pharmaceutical companies. Revenue is derived from clients by providing clinical cancer testing, interpretation and consultative services, molecular and NGS testing, comprehensive technical and professional services offering, clinical trials and research, validation laboratory services, and oncology data solutions.
The Company's chief executive officer serves as the CODM. The CODM uses net loss, as reported on the Consolidated Statements of Operations, to monitor budget versus actual results to evaluate profitability and allocate resources. The CODM is regularly provided with financial information, including revenue and expenses, in a format consistent with the Consolidated Statements of Operations. The CODM does not review assets at a different level or category than those disclosed in the Consolidated Balance Sheets. Substantially all of the Company's revenue and tangible long-lived assets are attributable to the U.S.
The following table summarizes segment information for the three and six months ended June 30, 2026, and 2025 (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Net revenue$201,656 $181,330 $388,328 $349,365 
Less:
Amortization7,634 8,124 15,267 16,486 
Depreciation8,577 9,141 17,357 18,507 
Stock-based compensation8,216 12,215 17,852 22,969 
Other cost of revenue(1)
101,831 95,525 199,715 181,342 
Other general and administrative(1)
48,569 52,836 97,614 103,585 
Other research and development(1)
9,934 7,859 18,393 16,961 
Other sales and marketing(1)
26,666 23,217 50,142 44,927 
Impairment charges— 20,041 — 20,041 
Loss from operations(9,771)(47,628)(28,012)(75,453)
Interest income1,214 2,263 2,487 5,984 
Interest expense(781)(933)(1,379)(2,551)
Other (expense) income(17)482 (29)547 
Gain on extinguishment of debt (Note 6)11,181 — 11,181 — 
Income (loss) before taxes1,826 (45,816)(15,752)(71,473)
Income tax benefit412 724 884 458 
Net income (loss)$2,238 $(45,092)$(14,868)$(71,015)
(1) Excludes amounts related to amortization, depreciation, and stock-based compensation, as applicable.