Segment Information (Tables)

9 Months Ended

Dec. 31, 2023

Schedule of Company Revenue and Adjusted EBITDA by Segment

The Company’s revenue and Adjusted EBITDA by segment is as follows:


	Three Months Ended December 31,				Nine Months Ended December 31,
	2023		2022		2023		2022
	(in thousands)
Segment Revenue: (1)
Consumer and Research Services	$	44,747	$	66,940	$	155,610	$	207,112
Total revenue	$	44,747	$	66,940	$	155,610	$	207,112
Segment Adjusted EBITDA:
Consumer and Research Services Adjusted EBITDA	$	(20,620)	$	(8,313)	$	(32,895)	$	(22,986)
Therapeutics Adjusted EBITDA	(16,528)		(21,471)		(73,890)		(58,599)
Unallocated Corporate (2)	(10,587)		(13,488)		(35,803)		(41,057)
Total Adjusted EBITDA	$	(47,735)	$	(43,272)	$	(142,588)	$	(122,642)
Reconciliation of net loss to Adjusted EBITDA:
Net loss	$	(277,976)	$	(91,961)	$	(457,870)	$	(247,558)
Adjustments:
Interest income, net	(3,230)		(3,671)		(11,289)		(5,307)
Other (income) expense, net	(23)		(855)		(501)		267
Provision for (benefit from) income taxes	19		(613)		55		(2,139)
Depreciation and amortization	4,921		5,257		13,873		15,512
Amortization of acquired intangible assets	2,397		4,265		9,673		12,847
Impairment of acquired intangible assets	—		9,968		—		9,968
Stock-based compensation expense	26,357		34,338		101,198		93,768
Loss on disposition of Lemonaid Health Limited and transaction-related costs (3)	—		—		2,375		—
Litigation settlement cost	—		—		98		—
Goodwill impairment (4)	198,800		—		198,800		—
Cyber security incident expenses, net of probable insurance recoveries (5)	1,000		—		1,000		—
Total Adjusted EBITDA	$	(47,735)	$	(43,272)	$	(142,588)	$	(122,642)

(1)There was no Therapeutics revenue for the three and nine months ended December 31, 2023 and 2022.

(2)Certain department expenses such as Finance, Legal, Regulatory and Supplier Quality, Corporate Communications, Corporate Development, and CEO Office are not reported as part of the reporting segments as reviewed by the CODM. These amounts are included in Unallocated Corporate.

(3)Refer to Note 17, “Disposition of Subsidiary” for additional information.

(4)Refer to Note 8, “Goodwill” for additional information.

(5)Refer to Note 11, “Cyber Security Incident” for additional information.

Summary of Customers Accounting for 10% or More of Segment Revenues

Customers accounting for 10% or more of segment revenues were as follows:


	Three Months Ended December 31,								Nine Months Ended December 31,

	2023				2022				2023				2022

	(in thousands)
Consumer and Research Services Segment Revenue:
Customer C (1) (2)	$	8,681	19	%	$	14,680	22	%	$	31,432	20	%	$	41,365	20	%
Customer B (3)	—		—		$	13,068	20	%	$	11,753	8	%	$	36,258	18	%

(1)Customer C is a reseller.

(2)Customer C revenues are primarily in the United States.

(3)Customer B revenues are in the U.K.