Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.24.1
Segment Information
 12 Months Ended
Dec. 31, 2023
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 2023, 2022 and 2021 (in thousands):
For the years ended
December 31, 2023 December 31, 2022
Net revenues
Diagnostic services $ 24,849  $ 108,329 
Consumer products 19,535  14,318 
Consolidated net revenue 44,384  122,647 
Cost of revenue    
Diagnostic services 11,790  39,896 
Consumer products 16,355  12,097 
Consolidated cost of revenue 28,145  51,993 
Depreciation and amortization expense    
Diagnostic services 3,979  2,336 
Consumer products 2,070  2,206 
Total Depreciation and amortization expense 6,049  4,542 
Operating and other expenses 32,990  43,203 
Income (loss) from operations, before income taxes    
Diagnostic services (1,804) 56,389 
Consumer products (7,493) (10,824)
Unallocated corporate (13,503) (22,657)
Total income from operations, before income taxes (22,800) 22,908 
Income tax benefit (expense) 6,018  (4,445)
Net Income $ (16,782) $ 18,463 
The following table is a summary of segment information for Fiscal 2023 and Fiscal 2022 (in thousands):
December 31,
2023		 December 31,
2022
ASSETS  
Diagnostic services $ 44,221  $ 50,832 
Consumer products 38,358  22,080 
Unallocated corporate 9,348  14,736 
Total assets $ 91,927  $ 87,648