v3.25.0.1
Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information
Note 16. Segment Information
The Company has historically reported its activities in two reportable segments, (1) Clinical Services and (2) Advanced Diagnostics. In the fourth quarter of 2024, the Company simplified its operational approach, bringing its two primary segments under a single segment. This decision was driven by an analysis of the Company's reporting structure, the information available to the CODM, and the strategic decisions being made by management. The Company provides services to a diverse client base, which includes community-based pathology and oncology practices, hospital pathology labs, reference labs, academic centers, and pharmaceutical companies. Revenue is derived from clients by providing clinical cancer testing, interpretation and consultative services, molecular and NGS testing, comprehensive technical and professional services offering, clinical trials and research, validation laboratory services, and oncology data solutions.
The Company's Chief Executive Officer serves as the Chief Operating Decision Maker (“CODM”). The CODM uses net loss, as reported on the Consolidated Statements of Operations, to monitor budget versus actual results to evaluate profitability and allocate resources. The CODM is regularly provided with financial information, including revenue and expenses, in a format consistent with the Consolidated Statements of Operations. The CODM does not review assets at a different level or category than those disclosed in the Consolidated Balance Sheets. For further details regarding segment reporting policies and changes in reporting structure, please refer to Note 2. Summary of Significant Accounting Policies.
The following table presents selected financial information with respect to the Company's single operating segment for the years ended December 31, 2024, 2023, and 2022:
202420232022
Net revenue$660,566 $591,643 $509,728 
Less:
Amortization33,446 35,133 34,058 
Depreciation39,101 37,450 35,372 
Stock-based compensation33,413 24,633 24,672 
Other cost of revenue(1)
332,252 310,562 287,014 
Other general and administrative(1)
197,775 184,484 185,913 
Other research and development(1)
28,283 25,187 28,485 
Other sales and marketing(1)
81,744 70,842 67,321 
Restructuring charges6,658 11,088 4,516 
Loss from operations(92,106)(107,736)(157,623)
Interest income(18,427)(16,902)(6,075)
Interest expense6,617 6,907 7,581 
Other expense (income)379 (644)213 
Loss before taxes(80,675)(97,097)(159,342)
Income tax benefit(1,949)(9,129)(15,092)
Net loss$(78,726)$(87,968)$(144,250)
(1) Excludes amounts related to amortization, depreciation, and stock-based compensation, as applicable.