Segment Information

12 Months Ended

Dec. 31, 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 Fiscal 2023, 2022 and 2021 (in thousands):

	For the years ended
	December 31, 2023		December 31, 2022
Net revenues
Diagnostic services	$	24,849	$	108,329
Consumer products	19,535		14,318
Consolidated net revenue	44,384		122,647
Cost of revenue
Diagnostic services	11,790		39,896
Consumer products	16,355		12,097
Consolidated cost of revenue	28,145		51,993
Depreciation and amortization expense
Diagnostic services	3,979		2,336
Consumer products	2,070		2,206
Total Depreciation and amortization expense	6,049		4,542
Operating and other expenses	32,990		43,203
Income (loss) from operations, before income taxes
Diagnostic services	(1,804)		56,389
Consumer products	(7,493)		(10,824)
Unallocated corporate	(13,503)		(22,657)
Total income from operations, before income taxes	(22,800)		22,908
Income tax benefit (expense)	6,018		(4,445)
Net Income	$	(16,782)	$	18,463

The following table is a summary of segment information for Fiscal 2023 and Fiscal 2022 (in thousands):

	December 31, 2023		December 31, 2022
ASSETS
Diagnostic services	$	44,221	$	50,832
Consumer products	38,358		22,080
Unallocated corporate	9,348		14,736
Total assets	$	91,927	$	87,648