XML 19 R4.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Net revenue        
Total net revenue $ 314,635 $ 165,969 $ 570,372 $ 311,789
Cost and operating expenses        
Technology research and development 34,482 77,908 67,873 104,975
Research and development 41,619 68,025 77,493 92,365
Selling, general and administrative 180,712 463,072 335,339 542,636
Total cost and operating expenses 376,409 699,461 700,835 898,555
Loss from operations (61,774) (533,492) (130,463) (586,766)
Interest income 1,093 1,718 2,906 2,749
Interest expense (21,579) (13,295) (39,582) (26,533)
Other income (expense), net 41,729 (7,048) 14,274 (6,299)
Loss before (provision for) benefit from income taxes (40,531) (552,117) (152,865) (616,849)
(Provision for) benefit from income taxes (212) (95) 45,968 (106)
Losses from equity method investments (2,100) 0 (3,983) 0
Net Loss (42,843) (552,212) (110,880) (616,955)
Dividends on Series A, B, B-1, B-2, C, D, E, F, G, G-3, and G-4 preferred shares 0 (11,540) 0 (39,347)
Cumulative undeclared dividends on Series C preferred shares 0 (668) 0 (1,174)
Net loss attributable to common shareholders, basic (42,843) (564,420) (110,880) (657,476)
Net loss attributable to common shareholders, diluted $ (42,843) $ (564,420) $ (110,880) $ (657,476)
Net loss per share attributable to common shareholders, basic $ (0.25) $ (6.86) $ (0.64) $ (9.02)
Net loss per share attributable to common shareholders, diluted $ (0.25) $ (6.86) $ (0.64) $ (9.02)
Weighted-average shares outstanding used to compute net loss per share, basic 173,381 82,325 171,960 72,930
Weighted-average shares outstanding used to compute net loss per share, diluted 173,381 82,325 171,960 72,930
Comprehensive Loss, net of tax        
Net loss $ (42,843) $ (552,212) $ (110,880) $ (616,955)
Foreign currency translation adjustment 3,756 (43) 8,354 (99)
Comprehensive loss (39,087) (552,255) (102,526) (617,054)
Genomics [Member]        
Net revenue        
Total net revenue 241,843 112,324 435,647 214,893
Cost and operating expenses        
Cost of revenues 99,756 68,324 184,539 121,159
Data and services [Member]        
Net revenue        
Total net revenue [1] 72,792 53,645 134,725 96,896
Cost and operating expenses        
Cost of revenues $ 19,840 $ 22,132 $ 35,591 $ 37,420
[1] Includes related party revenue of $15,908, $108, $16,539, $215 for the three and six months ended June 30, 2025 and 2024, respectively.