v3.26.1
SEGMENT INFORMATION
6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company operates and manages its business as one reportable operating segment. The Company's chief operating decision maker (“CODM”) is the chief executive officer. The CODM reviews financial information on an aggregate basis for the purposes of evaluating financial performance and allocating resources based on net income (loss), adjusted gross margin and adjusted EBITDA. Net income (loss) is the measure of segment profit most consistent with U.S. GAAP that is regularly reviewed by the CODM to allocate resources and assess performance. The CODM does not evaluate operating segment performance using asset information.

Effective June 1, 2026, Dr. Joshua Ofman was appointed chief executive officer and became the Company’s CODM. Following this leadership transition, the Company revised the internal management reporting package provided to the CODM, including changes to the presentation and composition of segment expenses, to align with how the CODM manages operations, assesses performance, allocates resources, and develops strategic priorities. As a result, the Company updated its segment reporting structure and has revised the presentation of segment information for the six months ended June 30, 2026, and three and six months ended June 30, 2025, to conform to the current-period presentation. The Company continues to operate and manage its business as one reportable segment and the revised presentation does not change total revenue, total costs and operating expenses, or net loss for any period presented.
The following table includes the significant expense categories regularly provided to the CODM when managing the Company’s single reporting segment. A reconciliation to the consolidated net loss for the three and six months ended June 30, 2026 and June 30, 2025 is included in the table below:

Three Months Ended
Six Months Ended
(in thousands)June 30,
2026
June 30,
2025
June 30,
2026
June 30,
2025
Revenue:
Screening revenue$42,642 $34,379 $82,474 $63,512 
Development services revenue2,045 1,165 2,998 3,869 
Total revenue44,687 35,544 85,472 67,381 
Costs and operating expenses:
Cost of screening revenue (exclusive of amortization of intangible assets) (1)
23,347 19,346 44,591 36,469 
Cost of development services revenue (1)
434 501 810 1,672 
Research and development42,463 42,169 84,949 90,609 
Sales and marketing33,121 24,672 59,652 55,494 
General and administrative37,810 28,707 70,241 63,467 
Depreciation and intangible assets amortization36,964 37,252 74,186 74,931 
Stock-based compensation18,908 13,751 35,168 29,200 
Intangible and other assets impairment25,423 28,000 25,423 28,000 
Total costs and operating expenses218,470 194,398 395,020 379,842 
Loss from operations(173,783)(158,854)(309,548)(312,461)
Other income (expense):
Interest income7,230 6,809 15,216 14,588 
Other income (expense), net(155)(811)101 (1,395)
Benefit from income taxes56,461 38,871 90,797 79,070 
Net loss$(110,247)$(113,985)$(203,434)$(220,198)
(1) Cost of screening revenue (exclusive of amortization of intangible assets) and cost of development services revenue include stock-based compensation expense of $0.6 million and $1.1 million for the three and six months ended June 30, 2026 and $0.4 million and $1.2 million for the three and six months ended June 30, 2025.