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Segment Information
12 Months Ended
Dec. 31, 2022
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 2022 and Fiscal 2021 (in thousands):
For the years ended
December 31, 2022December 31, 2021
Net revenues
Diagnostic services$108,329 $68,559 
Consumer products14,318 10,483 
Consolidated net revenue122,647 79,042 
Cost of revenue  
Diagnostic services39,896 29,415 
Consumer products12,097 7,639 
Consolidated cost of revenue51,993 37,054 
Depreciation and amortization expense  
Diagnostic services2,336 1,976 
Consumer products2,206 
Total Depreciation and amortization expense4,542 1,983 
Operating and other expenses43,203 34,700 
Income (loss) from operations, before income taxes  
Diagnostic services56,389 18,197 
Consumer products(10,824)(1,714)
Unallocated corporate(22,657)(11,178)
Total income from operations, before income taxes22,908 5,305 
Income tax benefit (expense)(4,445)968 
Net Income$18,463 $6,273 
The following table is a summary of segment information for Fiscal 2022 and Fiscal 2021 (in thousands):
December 31,
2022
December 31,
2021
ASSETS 
Diagnostic services$50,832 $51,150 
Consumer products22,080 24,139 
Unallocated corporate14,736 14,006 
Total assets$87,648 $89,295