Segment Information

3 Months Ended

Mar. 31, 2024

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 Chief Operating Decision Maker, 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 months ended March 31, 2024 and 2023 (amounts in thousands):

	For the three months ended
	March 31, 2024		March 31, 2023
Net revenues
Diagnostic services	$	—	$	14,524
Consumer products	3,634		4,779
Consolidated net revenue	3,634		19,303
Cost of revenue
Diagnostic services	720		5,222
Consumer products	3,347		3,561
Consolidated cost of revenue	4,067		8,783
Depreciation and amortization expense
Diagnostic services	801		931
Consumer products	804		306
Total Depreciation and amortization expense	1,605		1,237
Operating and other expenses	6,793		8,719
Income (loss) from operations, before income taxes
Diagnostic services	(3,345)		4,397
Consumer products	(1,655)		(1,029)
Unallocated corporate	(3,831)		(2,804)
Total (loss) income from operations, before income taxes	(8,831)		564
Income tax benefit (expense)	2,566		(14)
Total (loss) income from operations, after income taxes	(6,265)		550
Net (loss) income	$	(6,265)	$	550

The following table is a summary of segment information as of March 31, 2024 and December 31, 2023 (amounts in thousands):

	March 31, 2024		December 31, 2023
ASSETS
Diagnostic services	$	42,296	$	44,221
Consumer products	23,773		38,358
Unallocated corporate	23,963		9,348
Total assets	$	90,032	$	91,927