Related Party Transactions

9 Months Ended

Sep. 30, 2025

Related Party Transactions [Abstract]

Related Party Transactions

10.RELATED PARTY TRANSACTIONS

PrognomiQ, Inc. (PrognomiQ) constitutes a related party and, as of September 30, 2025 and December 31, 2024, the Company recorded $0.3 million and $0.4 million in related party receivables, respectively, on the condensed consolidated balance sheets mainly due from product sales and services revenue. For the three and nine months ended September 30, 2025, the Company recognized revenue of $0.3 million and $0.8 million, respectively, primarily from services. For the three and nine months ended September 30, 2024, the Company recognized revenue of $0.5 million and $2.0 million, respectively, of which $0.4 million and $1.6 million, respectively, were from product sales. This is presented as related party revenue on the unaudited condensed consolidated statements of operations and comprehensive loss.

On August 12, 2024, the Company entered into a preferred stock purchase agreement with PrognomiQ, pursuant to which the Company purchased $10.0 million of PrognomiQ's Series D Preferred Stock. Subsequently, on July 31, 2025, the Company made an additional $1.9 million investment in the same series. The investment is accounted for as an equity security in accordance with ASC 321.

As of September 30, 2025, the carrying value of the investment was $4.5 million and is included in other assets on the unaudited condensed consolidated balance sheets. The carrying value is adjusted to the Company's share in loss in the equity method investment. There were no impairment and recognized gains or losses to the carrying value for the three and nine months ended September 30, 2025.