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Segment and Geographic Information
 9 Months Ended
Sep. 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 September 30,Nine Months Ended September 30,
2025202420252024
(amounts in thousands)
Revenue:
Molecular profiling services$207,587 $93,803 $484,593 $254,692 
Pharma research and development services9,246 7,817 34,554 27,653 
Revenue216,833 101,620 519,147 282,345 
Less:
Cost of services - Molecular profiling services66,980 54,810 193,195 167,134 
Cost of services - Pharma research and development services2,347 2,398 7,698 7,130 
Selling and marketing expense41,267 36,758 123,355 115,077 
General and administrative expense51,973 40,852 168,458 126,273 
Research and development expense21,624 27,644 69,739 86,807 
Total costs and operating expenses184,191 162,462 562,445 502,421 
Income (Loss) from operations32,642 (60,842)(43,298)(220,076)
Interest income7,360 1,744 9,482 6,152 
Interest expense(13,507)(13,799)(45,497)(36,763)
Changes in fair value of financial instruments(2,081)5,131 (52,285)6,067 
Other income (expense), net(89)37 (18,447)(323)
Segment and consolidated net income (loss)$24,325 $(67,729)$(150,045)$(244,943)
The following table sets forth the Company’s revenue by geographic areas based on the customer’s location:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
(amounts in thousands)
United States $213,550 $99,403 $510,161 $275,213 
International 3,283 2,217 8,986 7,132 
Total revenue$216,833 $101,620 $519,147 $282,345 
No single country outside of the United States accounted for more than 10.0% of total revenue during each of the three months ended September 30, 2025 and 2024, or the nine months ended September 30, 2025 and 2024. As of September 30, 2025 and December 31, 2024, approximately 99.0% of the Company’s total assets are located in the United States.