v3.25.0.1
Segment and Geographic Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment and Geographic Information

Note 11. Segment and Geographic Information

The Company operates in one reportable segment, which is providing advanced cancer genomic tests for precision oncology and personalized testing. The Company develops, markets, and sells these tests to pharmaceutical companies, biopharmaceutical companies, diagnostic companies, universities, non-profits, and government entities. It derives revenue primarily in the United States from the sale of genomic testing services and manages its business activities on a consolidated basis. The Company does not have intra-entity sales or transfers. The Company’s CODM is its CEO, who reviews consolidated operating results, accompanied by disaggregated information about net revenues by customer types, as presented below, to make decisions about allocating resources and assessing performance for the entire Company.

Consolidated net loss is used to monitor actual performance compared to plans and forecasts. The CODM assesses performance based on revenue growth which is reported on the consolidated statements of operations. The accounting policies of the segment are the same as those described in the summary of significant accounting policies. The measure of segment assets is reported on the consolidated balance sheet as total assets. Substantially all of the Company’s long-lived assets are located in the United States.

The Company attributes revenues to geographic region based on the billing addresses of customers. The following table presents net revenues by geographic region:

 

 

Year Ended December 31,

 

 

2024

 

2023

United States

 

96%

 

90%

Others

 

4%

 

10%

The following table provides information about reported segment revenue, segment loss, and significant segment expenses (in thousands):

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

Revenue

 

$

84,614

 

 

$

73,481

 

Less:

 

 

 

 

 

 

Payroll and related costs

 

 

66,910

 

 

 

86,463

 

Lab supplies and outside services

 

 

12,029

 

 

 

18,841

 

Facility costs

 

 

10,132

 

 

 

16,899

 

Professional services

 

 

9,079

 

 

 

12,448

 

Repairs and maintenance

 

 

8,210

 

 

 

8,479

 

Lease impairment

 

 

—

 

 

 

5,565

 

Restructuring and other charges

 

 

—

 

 

 

8,077

 

Change in fair value of the Tempus Warrants

 

 

18,274

 

 

 

4,027

 

Depreciation and amortization

 

 

10,941

 

 

 

11,770

 

Other segment items(a)

 

 

35,833

 

 

 

15,109

 

Interest income

 

 

(5,510

)

 

 

(5,901

)

Segment and consolidated net loss

 

$

(81,284

)

 

$

(108,296

)

 

 

(a) Other segment items included in segment net loss include materials cost related to cost of revenue, marketing expenses, office expenses, foreign currency exchange gain and losses, and other overhead expenses.