v3.26.1
Segment and Geographic Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment and Geographic Information

Note 10. Segment and Geographic Information

The Company operates in one reportable segment, which is to provide advanced cancer genomic testing services for precision oncology and personalized testing. The Company develops, markets, and sells testing services to pharmaceutical companies, biopharmaceutical companies, diagnostic companies, universities, non-profits, government entities and cancer patients. It derives revenue primarily in the United States from the sale of genomic testing services and manages its business activities on a consolidated basis. The Company does not have intra-entity sales or transfers. The Company’s CODM is its CEO, who reviews consolidated operating results, accompanied by disaggregated information about net revenues by customer types, as presented below, to make decisions about allocating resources and assessing performance for the entire Company.

Consolidated net loss is used to monitor actual performance compared to plans and forecasts. The CODM assesses performance based on revenue growth which is reported on the consolidated statements of operations. The accounting policies of the segment are the same as those described in the summary of significant accounting policies. The measure of segment assets is reported on the consolidated balance sheet as total assets. Substantially all of the Company’s long-lived assets are located in the United States.

The Company attributes revenues to geographic region based on the billing addresses of customers. The following table presents net revenues by geographic region:

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

2026

 

2025

 

2026

 

2025

United States

 

98%

 

95%

 

96%

 

91%

Others

 

2%

 

5%

 

4%

 

9%

The following table provides information about reported segment revenue, segment loss, and significant segment expenses (in thousands):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Revenue

 

$

22,357

 

 

$

17,203

 

 

$

37,829

 

 

$

37,808

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Payroll and related costs

 

 

24,480

 

 

 

18,058

 

 

 

46,767

 

 

 

36,061

 

Lab supplies and outside services

 

 

3,501

 

 

 

4,090

 

 

 

5,735

 

 

 

6,931

 

Facility costs

 

 

2,495

 

 

 

2,482

 

 

 

4,865

 

 

 

4,752

 

Professional services

 

 

4,751

 

 

 

2,598

 

 

 

8,570

 

 

 

5,372

 

Repairs and maintenance

 

 

2,816

 

 

 

2,047

 

 

 

5,371

 

 

 

3,940

 

Depreciation and amortization

 

 

2,414

 

 

 

2,531

 

 

 

4,785

 

 

 

5,118

 

Other segment items (a)

 

 

15,549

 

 

 

7,331

 

 

 

27,589

 

 

 

15,345

 

Interest income

 

 

(1,966

)

 

 

(1,878

)

 

 

(4,138

)

 

 

(3,905

)

Segment and consolidated net loss

 

$

(31,683

)

 

$

(20,056

)

 

$

(61,715

)

 

$

(35,806

)

 

(a) Other segment items included in segment net loss include materials cost related to cost of revenue, marketing expenses, office expenses, foreign currency exchange gain and losses, and other overhead expenses.