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Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Total revenue $ 70,514 $ 48,706 $ 132,936 $ 91,845
Cost of services 27,562 29,949 52,573 57,852
Gross profit 42,952 18,757 80,363 33,993
Research and development 10,902 17,138 22,469 31,730
Selling and marketing 16,585 15,182 32,670 28,634
General and administrative 25,170 37,341 47,615 81,030
Impairment loss 0 0 0 2,120
Other operating expenses, net 874 718 1,848 2,465
Loss from operations (10,579) (51,622) (24,239) (111,986)
Non-operating income (expenses), net        
Change in fair value of warrants and earn-out contingent liabilities (4,409) 3,547 (10,510) 94
Interest expense, net (894) 1,074 (1,491) 1,039
Other expense, net (13,481) 86 (13,444) 2,802
Total non-operating income, net (18,784) 4,707 (25,445) 3,935
Loss before income taxes (29,363) (46,915) (49,684) (108,051)
Income tax benefit 190 196 272 343
Net loss (29,173) (46,719) (49,412) (107,708)
Other comprehensive loss, net of tax        
Unrealized gain related to available for sale securities, net 168 0 34 0
Comprehensive loss $ (29,005) $ (46,719) $ (49,378) $ (107,708)
Weighted average shares outstanding of Class A common stock, Basic (in shares) 26,617,955 25,418,358 26,340,063 22,754,948
Weighted average shares outstanding of Class A common stock, Diluted (in shares) 26,617,955 25,418,358 26,340,063 22,754,948
Basic net loss per share, Class A common stock (in dollars per share) $ (1.10) $ (1.84) $ (1.88) $ (4.73)
Diluted net loss per share, Class A common stock (in dollars per share) $ (1.10) $ (1.84) $ (1.88) $ (4.73)
Class A common stock        
Other comprehensive loss, net of tax        
Weighted average shares outstanding of Class A common stock, Basic (in shares) 26,617,955 25,418,358 26,340,063 22,754,948
Weighted average shares outstanding of Class A common stock, Diluted (in shares) 26,617,955 25,418,358 26,340,063 22,754,948
Basic net loss per share, Class A common stock (in dollars per share) $ (1.10) $ (1.84) $ (1.88) $ (4.73)
Diluted net loss per share, Class A common stock (in dollars per share) $ (1.10) $ (1.84) $ (1.88) $ (4.73)
Diagnostic test revenue        
Total revenue $ 69,439 $ 46,635 $ 130,543 $ 88,485
Other revenue        
Total revenue $ 1,075 $ 2,071 $ 2,393 $ 3,360