BALANCE SHEET COMPONENTS

3 Months Ended

Mar. 31, 2026

The following tables present financial information of certain condensed consolidated balance sheet components:


Accounts receivable, net	March 31, 2026		December 31, 2025
(in thousands)
Trade accounts receivable, gross	$	24,058	$	21,899
Allowance for credit losses	(3,713)		(3,604)
Total accounts receivable, net	$	20,345	$	18,295


Accrued liabilities	March 31, 2026		December 31, 2025
(in thousands)
Accrued compensation expenses	$	24,993	$	36,299
Accrued clinical studies and research and development expenses	17,815		15,656
Accrued legal and professional service expenses	5,449		3,650
Accrued other expenses	10,010		8,340
Total accrued liabilities	$	58,267	$	63,945

Long-lived assets

On February 19, 2026, the Company issued a press release announcing top-line results from its NHS-Galleri trial. Immediately following the release of this information, the Company’s market capitalization decreased materially. This sustained decrease in market capitalization represented a possible impairment indicator that warranted a quantitative impairment analysis of the Company’s long-lived assets.

The Company performed a recoverability test at the asset group level, which was determined to be equivalent to its reporting unit to assess potential impairment of long-lived assets, which consist primarily of intangible assets with finite lives.

The Company performed an undiscounted cash flow analysis to assess whether the expected cash flows generated over the remaining estimated useful life of the primary asset within the asset group are sufficient to recover its carrying value. Significant assumptions underlying the forecasted cash flows include estimates of future revenues, costs, and expenses. These estimates involve a high degree of judgment regarding future events and are based on assumptions that management believes are reasonable. Changes in these estimates or assumptions could materially affect the recoverability assessment.

The results of the recoverability test showed that the estimated undiscounted net cash flows to be generated from the use of the Company’s long-lived assets exceeded its net carrying value. As a result, no write-down of long-lived assets was recognized during the quarter ended March 31, 2026.