Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.23.1
Segment Information
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Segment Information Segment InformationThe 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 three months ended March 31, 2023 and 2022 (amounts in thousands):
For the three months ended
March 31, 2023 March 31, 2022
Net revenues
Diagnostic services $ 14,524  $ 44,913 
Consumer products 4,779  2,618 
Consolidated net revenue 19,303  47,531 
Cost of revenue    
Diagnostic services 5,222  16,702 
Consumer products 3,561  2,152 
Consolidated cost of revenue 8,783  18,854 
Depreciation and amortization expense    
Diagnostic services 931  576 
Consumer products 306  600 
Total Depreciation and amortization expense 1,237  1,176 
Operating and other expenses 8,612  11,591 
Income (loss) from operations, before income taxes    
Diagnostic services 4,397  20,026 
Consumer products (1,029) (1,863)
Unallocated corporate (2,804) (2,253)
Total income from operations, before income taxes 564  15,910 
Income tax expense 14  3,416 
Total income (loss) from operations, after income taxes 550  12,494 
Net income (loss) $ 550  $ 12,494 
The following table is a summary of segment information as of March 31, 2023 and December 31, 2022 (amounts in thousands):
March 31, 2023 December 31, 2022
ASSETS
Diagnostic services $ 50,667  $ 50,832 
Consumer products 23,507  22,080 
Unallocated corporate 21,200  14,736 
Total assets $ 95,374  $ 87,648