Total revenue for 2025 decreased by 18% to $69.6 million, down from $84.6 million in 2024. The company reported a net loss of $81.3 million for both 2025 and 2024, with an accumulated deficit of $631.3 million as of December 31, 2025. Cash, cash equivalents, and short-term investments increased to $240.0 million by the end of 2025, up from $185.0 million in 2024, partly due to $109.0 million in net proceeds from At-The-Market (ATM) sales. Clinical diagnostic revenue more than doubled to $2.0 million in 2025 from $0.8 million in 2024, with test volume increasing by nearly 400% to 16,233 tests. Medicare coverage was secured for NeXT Personal Dx for post-treatment surveillance of Stage II and III breast cancer (effective October 7, 2025) and Stage I to III non-small cell lung cancer (effective January 9, 2026). The partnership with Tempus AI, Inc. was expanded in December 2024 to include biopharma customers and further expanded in July 2025 to market NeXT Personal Dx for colorectal cancer, extending the agreement term through November 25, 2029. Revenue from Enterprise sales, primarily Natera, significantly decreased to $5.9 million in 2025 from $25.4 million in 2024, as the commercial relationship with Natera is no longer material. Population sequencing revenue increased by 58% to $11.8 million in 2025, driven by increased sample processing for the VA MVP. Research and development expenses increased by 3% to $50.3 million in 2025, while selling, general and administrative expenses increased by 16% to $53.6 million. The FDA's final rule on the regulation of Laboratory Developed Tests (LDTs) was vacated by a U.S. District Court in March 2025 and officially rescinded in September 2025, reverting LDTs to CLIA framework regulation. The company's Amended and Restated Bylaws were updated on February 24, 2026, to modernize stockholder proposal procedures and clarify voting standards.