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Segment and Geographic Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment and Geographic Information Segment and Geographic Information
The Company operates as a single operating segment. An operating segment is defined as a component of an entity for which discrete financial information is available and regularly reviewed by the entity's chief operating decision maker ("CODM") in deciding how to allocate resources and in assessing performance. The Company’s CODM, its Chairman and Chief Executive Officer, manages the Company’s operations on a consolidated basis for the purposes of allocating resources, making operating decisions and evaluating financial performance.
Net loss as reported on the condensed consolidated statements of operations and comprehensive loss is used by the CODM to assess segment performance against management budgets and prior period operating results for the purpose of making results-driven decisions about organizational resource allocation.
Segment revenues are derived from molecular profiling, strategic data, and research services that are delivered to the Company’s biopharmaceutical and clinical customers, who are predominantly located in the United States. The Company provides these services primarily by leveraging the Company’s proprietary technologies and clinico-genomic database, which are core to the Company’s operations and are deployed similarly across the service offerings.
The table below is a summary of the segment profit or loss, including significant segment expenses:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(amounts in thousands)
Revenue$181,398 $100,049 $302,314 $180,727 
Less:
Cost of services - Molecular profiling services65,321 59,431 126,215 112,324 
Cost of services - Pharma research and development services2,392 3,064 5,350 4,732 
Selling and marketing expense42,260 38,710 82,089 78,319 
General and administrative expense64,367 41,068 116,486 85,422 
Research and development expense25,047 24,787 48,114 59,164 
Interest income1,618 2,640 2,121 4,408 
Interest expense(19,208)(13,674)(31,990)(22,964)
Changes in fair value of financial instruments(17,870)12,000 (50,203)936 
Other expense, net(18,341)(141)(18,358)(360)
Segment and consolidated net loss$(71,790)$(66,186)$(174,370)$(177,214)
The following table sets forth the Company’s revenue by geographic areas based on the customer’s location:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(amounts in thousands)
United States $178,177 $97,381 $296,611 $175,811 
International 3,221 2,668 5,703 4,916 
Total revenue$181,398 $100,049 $302,314 $180,727 
No single country outside of the United States accounted for more than 10.0% of total revenue during each of the three months ended June 30, 2025 and 2024, or the six months ended June 30, 2025 and 2024. As of June 30, 2025 and December 31, 2024, approximately 99.0% of the Company’s total assets are located in the United States.