| Schedule of Segment Information |
(in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
2023 |
|
2022 |
| Net revenues: |
|
|
|
|
| Clinical Services |
|
$ |
114,869 |
|
|
$ |
98,791 |
|
| Pharma Services |
|
22,351 |
|
|
18,378 |
|
| Total revenue |
|
137,220 |
|
|
117,169 |
|
|
|
|
|
|
| Cost of revenue: |
|
|
|
|
Clinical Services(1)
|
|
67,292 |
|
|
65,267 |
|
Pharma Services(2)
|
|
15,114 |
|
|
13,670 |
|
| Total cost of revenue |
|
82,406 |
|
|
78,937 |
|
|
|
|
|
|
| Gross Profit: |
|
|
|
|
| Clinical Services |
|
47,577 |
|
|
33,524 |
|
| Pharma Services |
|
7,237 |
|
|
4,708 |
|
| Total gross profit |
|
54,814 |
|
|
38,232 |
|
|
|
|
|
|
| Operating expenses: |
|
|
|
|
| General and administrative |
|
61,549 |
|
|
66,248 |
|
| Research and development |
|
7,395 |
|
|
7,713 |
|
| Sales and marketing |
|
16,259 |
|
|
16,299 |
|
| Restructuring charges |
|
4,684 |
|
|
— |
|
| Total operating expenses |
|
89,887 |
|
|
90,260 |
|
| Loss from operations |
|
(35,073) |
|
|
(52,028) |
|
| Interest (income) expense, net |
|
(1,467) |
|
|
1,301 |
|
| Other (income) expense, net |
|
114 |
|
|
(168) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss before taxes |
|
(33,720) |
|
|
(53,161) |
|
| Income tax benefit |
|
(2,925) |
|
|
(3,753) |
|
| Net loss |
|
$ |
(30,795) |
|
|
$ |
(49,408) |
|
(1) Clinical Services cost of revenue for both the three months ended March 31, 2023 and 2022 includes $4.3 million of amortization of acquired Inivata developed technology intangible assets.
(2) Pharma Services cost of revenue for both the three months ended March 31, 2023 and 2022 include $0.6 million of amortization of acquired Inivata developed technology intangible assets.
|