Shareholders’ Equity and Equity Compensation (Tables)

9 Months Ended

Sep. 30, 2026

Schedule of Share-Based Payment Arrangement, Option, Activity

The following table summarizes the Company's stock option activity during the nine months ended September 30, 2026:


	Options Outstanding
		Weighted		Weighted
		Average		Average
		Exercise		Remaining	Aggregate
	Number of	Price		Contract	Intrinsic
	Options	Per Share		Term	Value
				(in years)	(in thousands)
Total outstanding as of December 31, 2025:	21,885,508	$	10.23	4.99	$	366,605
Granted	—	—
Exercised*	(5,006,474)	5.75
Forfeited or expired	(621,836)	17.52
Total outstanding as of September 30, 2026	16,257,198	$	11.33	4.86	$	328,714
Total exercisable as of September 30, 2026	13,042,687	$	9.72	4.23	$	284,721
Total vested or expected to vest as of September 30, 2026	15,894,218	$	11.17	4.80	$	323,850

*Includes 101 shares exercised but not settled as of September 30, 2026.

Schedule of Nonvested Restricted Stock Units And Performance Stock Units Activity

The following table summarizes the Company's RSU and PSU activity for the nine months ended September 30, 2026:


		Weighted
		Average Grant
	Shares	Date Fair Value

Unvested as of December 31, 2025	4,494,342	$	21.18
RSUs Granted	4,229,517	19.24
PSUs Granted	1,318,393	19.22
Vested	(1,147,600)	20.79
Cancelled/forfeited	(821,739)	20.26
Unvested as of September 30, 2026	8,072,913	$	20.00

Schedule of Share-Based Payment Arrangement, Expensed and Capitalized, Amount

The Company recorded stock-based compensation expense in the condensed consolidated statements of operations and comprehensive income (loss) as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025

	(amounts in thousands)
Cost of services - Molecular profiling services	$	669	$	1,104	$	3,712	$	2,452
Cost of services - Pharma research and development services	4		17		26		20
Selling and marketing expense	4,501		3,322		13,310		6,554
General and administrative expense	9,710		6,410		28,054		39,438
Research and development expense	3,614		2,802		11,487		8,175
Total	$	18,498	$	13,655	$	56,589	$	56,639

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The key assumptions used in determining the fair value of options granted and a summary of the methodology applied to develop each assumption are as follows:


	Nine Months Ended September 30,
		2025

Expected volatility		68.3% - 69.5%
Risk-free interest rate		3.9% - 4.2%
Expected term (years)		5.00 - 6.55
Expected dividend rate		—%
Expected forfeiture rate		0.0% - 8.5%