Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.23.1
Segment Information
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company has identified two operating segments, diagnostic services and consumer products, based on the manner in which the Company’s CEO as CODM assesses performance and allocates resources across the organization. The operating segments are organized in a manner that depicts the difference in revenue generating synergies that include the separate processes, profit generation and growth of each segment. The diagnostic services segment provides COVID-19 diagnostic information services to a broad range of customers in the United States, including health plans, third party payers and government organizations. The consumer products segment is engaged in the research, development, manufacture, distribution, marketing and sale of OTC consumer healthcare products and dietary supplements in the United States and also provides personal genomics products and services. The unallocated corporate expenses mainly included professional fees associated with the public company.
The following table is a summary of segment information for Fiscal 2022 and Fiscal 2021 (in thousands):
For the years ended
December 31, 2022 December 31, 2021
Net revenues
Diagnostic services $ 108,329  $ 68,559 
Consumer products 14,318  10,483 
Consolidated net revenue 122,647  79,042 
Cost of revenue    
Diagnostic services 39,896  29,415 
Consumer products 12,097  7,639 
Consolidated cost of revenue 51,993  37,054 
Depreciation and amortization expense    
Diagnostic services 2,336  1,976 
Consumer products 2,206  7 
Total Depreciation and amortization expense 4,542  1,983 
Operating and other expenses 43,203  34,700 
Income (loss) from operations, before income taxes    
Diagnostic services 56,389  18,197 
Consumer products (10,824) (1,714)
Unallocated corporate (22,657) (11,178)
Total income from operations, before income taxes 22,908  5,305 
Income tax benefit (expense) (4,445) 968 
Net Income $ 18,463  $ 6,273 
The following table is a summary of segment information for Fiscal 2022 and Fiscal 2021 (in thousands):
December 31,
2022		 December 31,
2021
ASSETS  
Diagnostic services $ 50,832  $ 51,150 
Consumer products 22,080  24,139 
Unallocated corporate 14,736  14,006 
Total assets $ 87,648  $ 89,295