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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue:        
Total revenue $ 181,398 $ 100,049 $ 302,314 $ 180,727
Costs and operating expenses:        
Selling and marketing expense 42,260 38,710 82,089 78,319
General and administrative expense (see note 10) 64,367 41,068 116,486 85,422
Research and development expense 25,047 24,787 48,114 59,164
Total costs and operating expenses 199,387 167,060 378,254 339,961
Loss from operations (17,989) (67,011) (75,940) (159,234)
Other income (expense), net:        
Interest income 1,618 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)
Total other income (expense), net (53,801) 825 (98,430) (17,980)
Loss before income taxes and provision for income taxes (71,790) (66,186) (174,370) (177,214)
Provision for income taxes 0 0 0 0
Net loss (71,790) (66,186) (174,370) (177,214)
Net income (loss) (71,790) (66,186) (174,370) (177,214)
Other comprehensive income, net of tax:        
Unrealized gain on available-for-sale securities 0 0 0 7
Foreign currency translation adjustments 424 92 459 100
Comprehensive loss (71,366) (66,094) (173,911) (177,107)
Deemed dividend from Series D redeemable convertible preferred stock (see note 6) (384,436) 0 (384,436) 0
Adjustments of redeemable convertible preferred stock to redemption value (60,971) (23,594) (85,433) (46,707)
Net loss attributable to common shareholders basic (517,197) (89,780) (644,239) (223,921)
Net loss attributable to common shareholders diluted $ (517,197) $ (89,780) $ (644,239) $ (223,921)
Net loss per share attributable to common shareholders - basic (in dollars per share) $ (7.97) $ (2.54) $ (12.80) $ (6.34)
Net loss per share attributable to common shareholders - diluted (in dollars per share) $ (7.97) $ (2.54) $ (12.80) $ (6.34)
Weighted-average shares used in computing net loss per share attributable to common shareholders - basic (in shares) 64,918,988 35,371,424 50,348,947 35,342,180
Weighted-average shares used in computing net loss per share attributable to common shareholders - diluted (in shares) 64,918,988 35,371,424 50,348,947 35,342,180
Molecular Profiling Services        
Revenue:        
Total revenue $ 162,924 $ 87,656 $ 277,006 $ 160,890
Costs and operating expenses:        
Cost of services 65,321 59,431 126,215 112,324
Pharma Research And Development Services        
Revenue:        
Total revenue 18,474 12,393 25,308 19,837
Costs and operating expenses:        
Cost of services $ 2,392 $ 3,064 $ 5,350 $ 4,732