v3.25.4
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2025
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.
The following table is representative of 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 years ended December 31, 2025, December 31, 2024 and December 31, 2023 is included in the table below:
Year Ended
(in thousands)
December 31,
2025
December 31,
2024
December 31,
2023
Revenue:
Screening revenue
$
138,601 
$
108,627 
$
74,999 
Development services revenue8,571 16,968 18,106 
Total revenue
147,172 125,595 93,105 
Costs and operating expenses:
Cost of screening revenue (exclusive of amortization of intangible assets)(1)(2)
73,251 63,284 47,966 
Cost of development services revenue(1)(2)
2,605 6,444 6,861 
Compensation 231,188 314,042 311,375 
Depreciation and intangible assets amortization expense
149,794 
153,228 
148,920 
Stock-based compensation56,021 84,130 95,265 
Professional services36,821 63,443 48,994 
Clinical studies28,012 43,890 54,590 
Goodwill and intangible assets impairment
28,000 1,420,936 718,466 
Cloud computing and information technology25,019 30,233 31,868 
Facilities
21,666 
25,983 
30,276 
Laboratory supplies and research collaborations 12,802 41,341 41,863 
Other segment expenses(3)
44,156 67,799 72,043 
Total costs and operating expenses
709,335 2,314,753 1,608,487 
Loss from Operations
(562,163)(2,189,158)(1,515,382)
Other income (expense):
Interest income
28,652 26,733 7,954 
Other income (expense), net
(993)64 (208)
Benefit from income taxes
126,153 135,356 41,951 
Net Loss
$
(408,351)
$
(2,027,005)
$
(1,465,685)
(1) Cost of screening revenue (exclusive of amortization of intangible assets) and cost of development services revenue include stock-based compensation expense. See Note 8 — Stock-Based Compensation for further details.
(2) Cost of screening revenue (exclusive of amortization of intangible assets) and cost of development services revenue include $6.6 million, $4.8 million and $9.8 million of depreciation expense for the year ended December 31, 2025, December 31, 2024 and December 31, 2023.
(3) Other segment expenses include costs related to contractors and temporary labor, marketing expenses, and legal expenses