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SEGMENT AND GEOGRAPHIC INFORMATION
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT AND GEOGRAPHIC INFORMATION
NOTE 9. SEGMENT AND GEOGRAPHIC INFORMATION
We are organized as, and operate in, one reportable segment: the development, manufacturing, and marketing of integrated platforms for genetic analysis. Our chief operating decision-maker ("CODM") is our Chief Executive Officer. Our CODM reviews financial information presented on a consolidated basis for the purposes of evaluating financial performance and allocating resources.
On a regular basis, our CODM reviews:
•total revenues by category
•total expenses and expenses by function, including sales and marketing and general and administrative, which include depreciation and share-based compensation
•net loss per share
Our assets are primarily located in the United States of America and not allocated to any specific region, and we do not measure the performance of geographic regions based upon asset-based metrics. Therefore, geographic information is presented only for revenue.
A summary of the segment profit or loss, including significant segment expenses is as follows:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2026202520262025
Total revenue$39,007 $39,766 $76,185 $76,919 
Less:
Cost of revenue26,369 25,082 50,706 63,606 
Research and development23,022 22,529 42,630 51,582 
Sales and marketing18,492 19,516 34,270 39,592 
General and administrative14,901 16,659 30,276 36,751 
Impairment charges— — — 15,000 
Settlement charges— — 15,400 — 
Gain on disposal of assets— — (45,796)— 
Change in fair value of contingent consideration— — — (18,700)
Amortization of acquired intangible assets833 833 1,666 362,875 
Operating loss(44,610)(44,853)(52,967)(473,787)
Other (expense) income, net(73)2,958 193 5,515 
Loss before income taxes(44,683)(41,895)(52,774)(468,272)
Income tax provision (benefit)58 35 242 (267)
Net loss$(44,741)$(41,930)$(53,016)$(468,005)
A summary of our revenue by geographic location is as follows:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2026202520262025
Americas$17,624 $17,687 $34,309 $33,990 
Europe, Middle East and Africa14,426 9,467 25,195 18,707 
Asia-Pacific6,957 12,612 16,681 24,222 
Total revenue$39,007 $39,766 $76,185 $76,919 
A summary of our revenue by category is as follows:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2026202520262025
Instrument revenue$12,839 $14,150 $22,560 $25,166 
Consumable revenue20,111 18,933 41,924 39,030 
Product revenue32,950 33,083 64,484 64,196 
Service and other revenue6,057 6,683 11,701 12,723 
Total revenue$39,007 $39,766 $76,185 $76,919