Balance Sheet Components

12 Months Ended

Dec. 31, 2025

Balance Sheet Components

Balance Sheet Components

8.    Balance Sheet Components

Allowance for Doubtful Accounts

The following is a roll-forward of the allowances for doubtful accounts related to trade accounts receivable for the years ended December 31, 2025, 2024 and 2023:

	December 31,
	2025		2024		2023
	(in thousands)
Beginning balance	$	7,259	$	6,481	$	3,830
Provision for doubtful accounts		1,607		1,279		2,645
(Write-offs) / Recoveries		(848)		(501)		6
Total	$	8,018	$	7,259	$	6,481

Property and Equipment, net

The Company’s property and equipment consisted of the following:

		December 31,		December 31,
	Useful Life	2025		2024
		(in thousands)
Machinery and equipment	3-5 years	$	171,270	$	117,076
Computer equipment	3 years		3,629		3,178
Purchased and capitalized software costs held for internal use	3 years		21,195		13,178
Leasehold improvements	Lesser of useful life or lease term		62,152		48,569
Construction-in-process			94,016		58,461
			352,262		240,462
Less: Accumulated depreciation and amortization			(111,078)		(78,416)
Total Property and Equipment, net		$	241,184	$	162,046

The Company’s long-lived assets are located in the United States.

During the year ended December 31, 2025, the increase in net property and equipment was due to expansion projects and purchases of new equipment for the Company’s laboratories located in Texas and California to expand testing capabilities. During the years ended December 31, 2025, 2024, and 2023, depreciation expense of $36.5 million, $27.2 million, $22.7 million was recorded, respectively. The Company did not incur any material impairment charges during the years ended December 31, 2025, 2024, and 2023.

As of December 31, 2025 and 2024, the Company’s consolidated balance sheets included $10.2 million and $9.1 million, respectively, of capitalized cloud-based implementation costs. Accumulated amortization associated with these assets was $8.3 million and $5.3 million as of December 31, 2025 and 2024, respectively. The net book value of these capitalized cloud-based implementation was $1.8 million and $3.7 million, for the years ended December 31, 2025 and 2024, respectively and are recorded in current assets and other assets within the Company's consolidated balance sheets depending on the anticipated amortization period. During the years ended December 31, 2025, 2024, and 2023, the Company recorded amortization expense of $3.0 million, $2.8 million and $1.4 million, respectively.

Accrued Compensation

The Company’s accrued compensation consisted of the following:

	December 31,		December 31,
	2025		2024
	(in thousands)
Accrued paid time off	$	4,698	$	3,826
Accrued commissions		19,422		14,224
Accrued bonuses		48,926		32,236
Other accrued compensation		19,557		11,828
Total accrued compensation	$	92,603	$	62,114

Other Accrued Liabilities

The Company’s other accrued liabilities consisted of the following:

	December 31,		December 31,
	2025		2024
	(in thousands)
Reserves for refunds to insurance carriers	$	9,507	$	11,276
Accrued charges for third-party testing		20,874		12,321
Testing and laboratory materials from suppliers		12,353		7,893
Marketing and corporate affairs		20,215		16,548
Legal, audit and consulting fees		56,077		54,208
Accrued shipping charges		3,419		1,625
Sales and income tax payable		8,365		4,416
Accrued third-party service fees		9,758		9,046
Clinical trials and studies		14,467		10,097
Operating lease liabilities, current portion		15,581		10,168
Property and equipment purchases		11,270		7,098
Other accrued expenses		6,773		2,197
Total other accrued liabilities	$	188,659	$	146,893