v3.25.4
SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
2024 Incentive Award Plan
On January 1, 2026, in accordance with the automatic evergreen provision of the 2024 Incentive Award Plan the maximum number of shares that can be issued under the plan was increased to 12,368,055. Subsequent to December 31, 2025, the Company granted 1.7 million RSUs of Class A common stock to employees. The RSUs are subject to continued service, vest annually over a service period 4 years, and had a fair market value on the grant date of $88.5 million.
2024 Employee Stock Purchase Plan
On January 1, 2026, in accordance with the automatic evergreen provision of the 2024 Employee Stock Purchase Plan the maximum number of shares that can be issued under the plan was increased to 1,156,269.
Potential Impairment of Long-Lived Intangible Assets
On February 19, 2026, the Company issued a press release announcing top-line results from its NHS-Galleri trial, showing that, although the primary endpoint of statistically significant Stage 3 and 4 reduction was not observed, adding Galleri to standard of care screening resulted in a substantial reduction in Stage 4 cancer diagnoses, increased Stage 1 and 2 detection of deadly cancers, and four-fold higher cancer detection rate when compared to standard of care alone. Immediately following the release of this information, the Company’s market capitalization decreased materially. This decrease in market capitalization represents a possible impairment indicator that could result in an impairment of our long-lived intangible assets, which had a balance of $1.9 billion as of December 31, 2025. As a result, the Company expects to perform an interim impairment test during the first quarter of 2026 as this is the period in which such information was available to management. The Company has not yet completed this interim impairment test as of the date of this filing. See Note 2 Summary of Significant Accounting Policies for information about how long-lived intangible assets are tested for impairment.