| Summary of Significant Segment Expenses |
The following table reflects certain financial data of the Company’s reportable segments and includes the reconciliation to loss from continuing operations before income taxes.
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Three Months Ended September 30, |
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Nine Months Ended
September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
| Logistics: |
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| Revenue |
$ |
44,899 |
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$ |
46,507 |
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$ |
140,738 |
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$ |
127,563 |
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| Cost of revenue |
35,564 |
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36,517 |
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113,350 |
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101,513 |
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| Gross profit (1) |
$ |
9,335 |
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$ |
9,990 |
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$ |
27,388 |
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$ |
26,050 |
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| Clinical: |
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| Revenue |
$ |
29,182 |
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$ |
2,791 |
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$ |
73,233 |
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$ |
2,791 |
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| Cost of revenue |
21,697 |
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2,127 |
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54,469 |
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2,127 |
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| Gross profit (2) |
$ |
7,485 |
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$ |
664 |
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$ |
18,764 |
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$ |
664 |
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| Consolidated: |
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| Revenue |
$ |
74,081 |
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$ |
49,298 |
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$ |
213,971 |
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$ |
130,354 |
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| Cost of revenue |
57,261 |
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38,644 |
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167,819 |
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103,640 |
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| Gross profit |
$ |
16,820 |
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$ |
10,654 |
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$ |
46,152 |
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$ |
26,714 |
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(1) Net of depreciation expense of $1,329 and $965 for the three months ended September 30, 2026 and 2025, respectively, and $3,893 and $2,572 for the nine months ended September 30, 2026 and 2025, respectively.
(2) Net of depreciation expense of $382 and $58 for the three months ended September 30, 2026 and 2025, respectively, and $1,112 and $58 for the nine months ended September 30, 2026 and 2025, respectively.
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| Reconciliation from the measure of segment performance to loss from continuing operations before income taxes: |
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Three Months Ended September 30, |
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Nine Months Ended
September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
| Gross profit |
$ |
16,820 |
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$ |
10,654 |
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$ |
46,152 |
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$ |
26,714 |
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| Less: |
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| Selling, general and administrative |
15,140 |
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15,912 |
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44,741 |
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41,534 |
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| Amortization of intangible assets |
5,511 |
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364 |
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13,624 |
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1,128 |
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| Operating loss from continuing operations |
(3,831) |
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(5,622) |
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(12,213) |
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(15,948) |
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| Plus (less): |
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| Interest income, net |
146 |
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1,127 |
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|
950 |
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3,603 |
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| Change in fair value of warrant liabilities |
— |
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33 |
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1,530 |
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2,862 |
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| Change in fair value of assets and other liabilities |
(2,649) |
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— |
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(4,715) |
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— |
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| Realized loss from sales of short-term investments |
(1,281) |
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(5,195) |
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(1,281) |
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(5,195) |
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| Loss from continuing operations before income taxes |
$ |
(7,615) |
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$ |
(9,657) |
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$ |
(15,729) |
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$ |
(14,678) |
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September 30, 2026 |
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December 31,
2025 |
| Goodwill |
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| Logistics |
$ |
15,540 |
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$ |
15,540 |
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| Clinical |
86,378 |
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72,670 |
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| Total Goodwill |
$ |
101,918 |
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$ |
88,210 |
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