XML 38 R25.htm IDEA: XBRL DOCUMENT v3.24.0.1
Segment Information
12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company has historically reported its activities in two reportable segments, (1) Clinical Services and (2) Pharma Services. In the second quarter of 2023, the Pharma Services segment was rebranded as the Advanced Diagnostics segment.
The financial information reviewed by the CODM includes revenues, cost of revenue, and gross profit for both reportable segments. Assets, operating expenses, loss from operations, and net loss are not presented at the segment level as that information is not used by the CODM. For further details regarding segment reporting, please refer to Note 2. Summary of Significant Accounting Policies.
The following table summarizes segment information for the years ended December 31, 2023, 2022 and 2021 (in thousands):
 202320222021
Net revenue:
   Clinical Services$495,636 $418,754 $404,172 
   Advanced Diagnostics96,007 90,974 80,157 
Total net revenue591,643 509,728 484,329 
Cost of revenue:
   Clinical Services(1)
287,059 261,742 244,360 
   Advanced Diagnostics(2)
59,980 60,090 52,909 
Total cost of revenue347,039 321,832 297,269 
Gross profit:
   Clinical Services208,577 157,012 159,812 
   Advanced Diagnostics36,027 30,884 27,248 
Total gross profit244,604 187,896 187,060 
(1) Clinical Services cost of revenue for the years ended December 31, 2023 and December 31, 2022 include $17.3 million and $17.1 million, respectively, of amortization of acquired intangible assets.
(2) Advanced Diagnostics cost of revenue for both the years ended December 31, 2023 and December 31, 2022 include $2.4 million of amortization of acquired intangible assets.