v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company has determined that its chief executive officer ("CEO") is its chief operating decision maker ("CODM"). The Company’s CEO evaluates the financial performance of the Company based on two reportable segments: Software and Drug Discovery. The Software segment is focused on licensing the Company’s software to transform molecular discovery. The Drug Discovery segment is focused on building a portfolio of preclinical and clinical drug programs, internally and through collaborations.
The CODM reviews segment performance and allocates resources based upon segment revenue and segment gross profit of the Software and Drug Discovery reportable segments. Segment gross profit is derived by deducting cost of sales from U.S. GAAP revenue. Cost of sales are expenditures made that are directly attributable to the reportable segment. These expenditures are allocated to the segments based on headcount or by expenses directly incurred to support the Software or Drug Discovery segments. The reportable segment expenditures include compensation, supplies, and services from contract research organizations.
Certain cost items are not allocated to the Company’s reportable segments. These cost items primarily consist of non-drug discovery program related compensation and general operational expenses associated with the Company’s research and development, sales and marketing, and general and administrative activities. These costs are incurred by both segments and due to the integrated nature of the Company’s Software and Drug Discovery segments, any allocation methodology would be subjective and may not provide meaningful analysis.
Segment revenue is primarily earned in the United States and there are no intersegment revenues. Additionally, the Company reports assets on a consolidated basis and does not allocate assets to its reportable segments for purposes of assessing segment performance or allocating resources.
Presented below is financial information with respect to the Company’s reportable segments for the periods presented:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Segment revenues(1):
Software$35,465 $40,544 $71,025 $89,360 
Drug discovery23,424 14,215 46,451 24,950 
Total segment revenues58,889 54,759 117,476 114,310 
Segment cost of revenues(1):
Software10,538 13,029 22,838 26,551 
Drug discovery15,919 15,572 32,659 30,477 
Total segment cost of revenues26,457 28,601 55,497 57,028 
Segment gross profit:
Software24,927 27,515 48,187 62,809 
Drug discovery7,505 (1,357)13,792 (5,527)
Total segment gross profit32,432 26,158 61,979 57,282 
Unallocated (expense) income:
Research and development(40,998)(43,138)(84,822)(88,982)
Sales and marketing(10,266)(10,734)(21,869)(21,101)
General and administrative(22,715)(25,189)(45,629)(50,991)
Change in fair value of equity investments45,868 4,579 32,381 (8,516)
Other income3,026 5,438 5,689 9,642 
Income tax expense(1,372)(287)(1,780)(315)
Consolidated net income (loss)$5,975 $(43,173)$(54,051)$(102,981)
(1)    Contribution activity is included within the segments to which the contribution activity relates as software contribution activity and drug discovery contribution activity share similar economic characteristics, respectively, with the software and drug discovery segments.
Revenues by geographic area are determined based on the address provided by the Company's customers and partners. The following table sets forth revenues by geographic area for the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
United States$37,526 $34,050 $68,935 $63,713 
EMEA14,378 13,563 34,550 36,646 
APAC6,700 6,971 13,372 13,045 
Rest of World285 175 619 906 
$58,889 $54,759 $117,476 $114,310