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Segment and revenue information
 12 Months Ended
Dec. 31, 2022
Segment and revenue information  
Segment and revenue information Segment and revenue informationDescription of segments and principal activities
Operating segments are reported based on the financial information provided to the Chief Executive Officer (“CEO”). The CEO is identified as the Chief Operating Decision Maker (“CODM”) of the Group. The CODM monitors the operating results of its operating segments separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on revenue growth with less emphasis on profit or loss due to the early stage development of the Company. Profit or loss is measured consistently with net profit or net loss in the Consolidated Financial Statements of the Company. The CODM monitors the operating segments based on revenue growth and gross profit and reports its results under two segments: Kit and Services. All other operating segments have been aggregated and are included within the Corporate / Unallocated heading.

The Group’s research and development activities, sales & administrative activities, financing (including finance costs, finance income and other income) and income taxes are managed on a corporate basis and are not allocated to operating segments. Such expenditure is included in corporate/ unallocated.

Capital expenditure consists of additions of property, plant and equipment and intangible assets.
Revenue and Gross Profit
The following tables presents the Company’s key financial information by segment:

Amounts in thousands of USDFor the year ended December 31, 2022For the year ended December 31, 2021For the year ended December 31, 2020
Kit
Revenue from external customers$55,091 $26,797 $14,759 
Cost of goods sold(7,131)(4,112)(2,671)
Gross profit$47,960 $22,685 $12,088 
Service
Revenue from external customers73,012 60,221 34,404 
Cost of goods sold(31,776)(28,299)(12,114)
Gross profit$41,236 $31,922 $22,290 
Total segments
Revenue from external customers128,103 87,018 49,163 
Cost of goods sold(38,907)(32,411)(14,785)
Gross profit$89,196 $54,607 $34,378 
Corporate / Unallocated
Revenue from external customers11,745 7,955 4,904 
Cost of goods sold(6,442)(4,353)(2,671)
Gross profit$5,303 $3,602 $2,233 
Consolidated
Revenue from external customers139,848 94,973 54,067 
Cost of goods sold(45,349)(36,764)(17,456)
Gross profit$94,499 $58,209 $36,611 

Disaggregation of revenue from contracts with customers
The Group derives revenue primarily from the sales of own-produced finished goods and services in the following geographical regions:


As per December 31, 2022KitServicesCorporate /UnallocatedTotal
amounts in thousands USD
Sweden$3,903 $2,277 $529$6,709 
Americas25,138 36,159 5,21866,515 
EMEA (excluding Sweden)17,287 30,576 3,11850,981 
China2,968 29 1,7444,741 
Japan2,353 2,395 2655,013 
Rest of world3,442 1,576 8715,889 
Total$55,091 $73,012 $11,745$139,848 
As per December 31, 2021KitServicesCorporate /UnallocatedTotal
amounts in thousands USD
Sweden$2,072 $3,155 $1,467$6,694 
Americas12,170 27,105 3,06842,343 
EMEA (excluding Sweden)10,381 26,612 1,75438,747 
China1,908 148 7172,773 
Japan182 2,605 1952,982 
Rest of world84 596 7541,434 
Total$26,797 $60,221 $7,955$94,973 

As per December 31, 2020KitServicesCorporate /UnallocatedTotal
amounts in thousands USD
Sweden$4,029 $2,307 $884$7,220 
Americas6,824 19,268 1,71527,807 
EMEA (excluding Sweden)2,858 10,906 1,16614,930 
China374 101 193668 
Japan88 1,369 901,547 
Rest of world586 453 8561,895 
Total$14,759 $34,404 $4,904$54,067 



There were no customers in the Group in 2022, 2021 or 2020 periods that individually exceeded 10% of total revenue.
Non-current operating assets by geography
Sweden is regarded as being the Company’s country of domicile. Non-current operating assets are distributed by geography as follows:

Amounts in thousands USDAs of
December 31,
20222021
Sweden$280,181$327,404
Rest of World13,663 11,707 
Total$293,844$339,111