Summary of Significant Accounting Policies (Tables)
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12 Months Ended |
Dec. 31, 2024 |
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| Accounting Policies [Abstract] |
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| Summary of Components of Marketable Securities |
The following is a summary of the components of our marketable securities and the underlying fair value input level tier hierarchy (see fair value of financial instruments) (in thousands):
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As of December 31, 2024 |
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Amortized
Cost |
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Unrealized
Gains |
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Unrealized
Losses |
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Fair
Value |
| Corporate stock |
$ |
148 |
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$ |
— |
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$ |
(148) |
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$ |
— |
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$ |
148 |
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$ |
— |
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$ |
(148) |
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$ |
— |
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As of December 31, 2023 |
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Amortized
Cost |
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Unrealized
Gains |
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Unrealized
Losses |
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Fair
Value |
| Corporate stock |
$ |
3,528 |
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$ |
— |
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$ |
(401) |
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$ |
3,127 |
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$ |
3,528 |
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$ |
— |
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$ |
(401) |
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$ |
3,127 |
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| Schedule of Accounts Receivable Net |
Accounts are written off as uncollectible at the time we determine that collections are unlikely. Accounts receivable, net is comprised of the following (in thousands):
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December 31, 2024 |
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December 31, 2023 |
| Trade accounts receivable |
$ |
34,901 |
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$ |
39,678 |
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| Unbilled accounts receivable |
— |
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— |
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34,901 |
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39,678 |
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| Less allowances |
(14,843) |
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(3,864) |
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| Total accounts receivable |
$ |
20,058 |
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$ |
35,814 |
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| Accounts Receivable, Allowance for Credit Loss |
The table below presents a roll forward of the Company's allowance for credit losses (amount in thousands).
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| Beginning balance as of January 1, 2023 |
$ |
3,140 |
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| Current period provision for expected credit losses |
724 |
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| Balance as of December 31, 2023 |
3,864 |
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| Current period provision for expected credit losses |
11,018 |
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| Accounts written off |
(39) |
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| Balance as of December 31, 2024 |
$ |
14,843 |
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| Schedule of Components of Inventory |
At December 31, 2024 and 2023, the components of inventory are as follows (in thousands):
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December 31,
2024 |
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December 31,
2023 |
| Diagnostic services testing material |
$ |
564 |
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$ |
623 |
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| Raw materials |
147 |
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448 |
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| Work in process |
65 |
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119 |
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| Finished goods |
375 |
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1,320 |
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| Inventory |
$ |
1,151 |
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$ |
2,510 |
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| Inventory valuation reserve |
(8) |
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(219) |
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| Inventory, net |
$ |
1,143 |
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$ |
2,291 |
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| Schedule of Fair Value of Financial Instruments |
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As of December 31, 2024 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
| Corporate stock |
$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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As of December 31, 2023 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
| Corporate stock |
$ |
3,127 |
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$ |
— |
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$ |
— |
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$ |
3,127 |
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| Schedule of Disaggregation of Deferred Revenue |
The following table disaggregates our deferred revenue by recognition period (in thousands):
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As of December 31, 2024 |
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As of December 31, 2023 |
| Recognition Period |
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| 0-12 Months |
$ |
1,698 |
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$ |
2,382 |
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| 13-24 Months |
784 |
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1,110 |
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| Total |
$ |
2,482 |
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$ |
3,492 |
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The following table disaggregates the Company’s revenue by revenue source for Fiscal 2024 and 2023 (in thousands):
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For the years ended |
| Revenue by Customer Type |
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December 31, 2024 |
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December 31, 2023 |
| Diagnostic services |
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$ |
— |
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$ |
24,849 |
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| Retail and others |
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1,492 |
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2,378 |
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| Genomic products and services |
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5,278 |
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7,757 |
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| Total revenue, net |
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$ |
6,770 |
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$ |
34,984 |
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