Segment Information

6 Months Ended

Jun. 30, 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 three and six months ended June 30, 2023 and 2022 (amounts in thousands):

	For the three months ended				For the six months ended
	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Net revenues
Diagnostic services	$	7,834	$	26,158	$	22,358	$	71,071
Consumer products	5,383		2,934		10,162		5,552
Consolidated net revenue	13,217		29,092		32,520		76,623
Cost of revenue
Diagnostic services	3,792		8,403		9,014		25,105
Consumer products	2,977		1,969		6,538		4,121
Consolidated cost of revenue	6,769		10,372		15,552		29,226
Depreciation and amortization expense
Diagnostic services	212		594		1,143		1,170
Consumer products	305		601		611		1,201
Total Depreciation and amortization expense	517		1,195		1,754		2,371
Operating and other expenses	10,845		7,114		19,564		18,705
Income (loss) from operations, before income taxes
Diagnostic services	110		12,872		4,451		32,898
Consumer products	(1,182)		(313)		(2,381)		(2,176)
Unallocated corporate	(3,842)		(2,148)		(6,420)		(4,401)
Total (loss) income from operations, before income taxes	(4,914)		10,411		(4,350)		26,321
Income tax benefit (expense)	1,474		(2,965)		1,460		(6,381)
Total (loss) income from operations, after income taxes	(3,440)		7,446		(2,890)		19,940
Net (loss) income	$	(3,440)	$	7,446	$	(2,890)	$	19,940

The following table is a summary of segment information as of June 30, 2023 and December 31, 2022 (amounts in thousands):

	June 30, 2023		December 31, 2022
ASSETS
Diagnostic services	$	50,667	$	50,832
Consumer products	37,853		22,080
Unallocated corporate	2,538		14,736
Total assets	$	91,058	$	87,648