Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.24.1.1.u2
Segment Information
 3 Months Ended
Mar. 31, 2024
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 Chief Operating Decision Maker, 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, 2024 and 2023 (amounts in thousands):
For the three months ended
March 31, 2024 March 31, 2023
Net revenues
Diagnostic services $ —  $ 14,524 
Consumer products 3,634  4,779 
Consolidated net revenue 3,634  19,303 
Cost of revenue    
Diagnostic services 720  5,222 
Consumer products 3,347  3,561 
Consolidated cost of revenue 4,067  8,783 
Depreciation and amortization expense    
Diagnostic services 801  931 
Consumer products 804  306 
Total Depreciation and amortization expense 1,605  1,237 
Operating and other expenses 6,793  8,719 
Income (loss) from operations, before income taxes    
Diagnostic services (3,345) 4,397 
Consumer products (1,655) (1,029)
Unallocated corporate (3,831) (2,804)
Total (loss) income from operations, before income taxes (8,831) 564 
Income tax benefit (expense) 2,566  (14)
Total (loss) income from operations, after income taxes (6,265) 550 
Net (loss) income $ (6,265) $ 550 
The following table is a summary of segment information as of March 31, 2024 and December 31, 2023 (amounts in thousands):
March 31, 2024 December 31, 2023
ASSETS
Diagnostic services $ 42,296  $ 44,221 
Consumer products 23,773  38,358 
Unallocated corporate 23,963  9,348 
Total assets $ 90,032  $ 91,927