0001804591-24-000047 | 10-Q | XBRL Viewer

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Organization and Description of Business	3 Months Ended
Organization and Description of Business	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business 23andMe Holding Co. (the “Company” or “23andMe”) is dedicated to helping people access, understand, and benefit from the human genome. The Company is building the leading direct-to-consumer precision medicine platform that powers its genetics-driven therapeutics and research business. The Company is dedicated to empowering customers to optimize their health by providing consumers direct access to their genetic information, personalized reports, actionable insights, and digital access to affordable healthcare professionals through the Company’s telehealth platform, Lemonaid Health, Inc. (“Lemonaid Health”). The Company pioneered direct-to-consumer genetic testing, giving consumers unique, personalized information about their genetic health risks, ancestry, and traits. It was the first company to obtain Food and Drug Administration (“FDA”) authorization for a direct-to-consumer genetic test, and it is the only company to have FDA authorization, clearance, or an exemption from premarket notification for all of the carrier status, genetic health risk, cancer predisposition, and pharmacogenetics reports that the Company offers to customers. Through the Lemonaid Health telehealth platform, the Company connects patients to licensed healthcare professionals to provide affordable and direct online access to medical care, from consultation through treatment, for a number of common conditions, using evidence-based guidelines and up-to-date clinical protocols. When medications are prescribed by Lemonaid Health’s affiliated healthcare professionals, patients can use Lemonaid Health’s online pharmacy for fulfillment. Patients also can access telehealth consultations for certain 23andMe genetic reports through Lemonaid Health. As previously disclosed, the Company formed a special committee composed of independent members of the Board of Directors (the “Special Committee”) on March 28, 2024. The role of the Special Committee is to review strategic alternatives that may be available to the Company to maximize stockholder value. On April 17, 2024, Anne Wojcicki, Chief Executive Officer, Co-Founder, and Chair of the Board of Directors of the Company disclosed that she is considering making a proposal to acquire all of the outstanding shares of the Company that she does not currently own. Ms. Wojcicki also indicated that she wishes to maintain control of the Company and, therefore, will not be willing to support any alternative transaction. As previously disclosed, on July 29, 2024, the Special Committee received a preliminary non-binding indication of interest from Ms. Wojcicki to acquire all of the outstanding shares of the Company not owned by her or her affiliates or any other stockholder that she invites to roll over their shares, for cash consideration of $0.40 per share (the “Preliminary Proposal”), as set forth in Amendment No. 2 to Schedule 13D filed by ABeeC 2.0 LLC (Ms. Wojcicki’s affiliated entity) with the SEC on July 31, 2024. On August 2, 2024, the Company issued a press release announcing the Special Committee’s response to the Preliminary Proposal, including certain requirements for any revised proposal from Ms. Wojcicki. The Special Committee will carefully evaluate any revised proposal from Ms. Wojcicki when and if it is made, and will also consider alternatives, including continuing to operate as a publicly traded company. The Special Committee is committed to acting in the best interests of the Company and its stockholders. The Company has evaluated how it is organized and managed and has identified two reporting segments: (1) Consumer and Research Services, and (2) Therapeutics. The Company is headquartered in South San Francisco, California and is incorporated in the State of Delaware.

Leases

3 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

The Company has entered into operating leases for its corporate offices, lab facilities, and storage spaces, with remaining contractual periods ranging from 1.5 years to 7.1 years. For the Company’s facility in Sunnyvale, California, there is an option to extend the lease for a period of seven years. The Company is not reasonably certain that it will exercise this option and therefore it is not included in its right-of-use (“ROU”) assets and lease liabilities as of June 30, 2024. The Company did not have any finance leases for the periods presented.

For the three months ended June 30, 2024 and 2023, the Company recorded operating lease costs of $3.3 million and $3.4 million, respectively, and variable operating lease costs of $1.5 million and $1.3 million, respectively.

As of June 30, 2024, the future minimum lease payments included in the measurement of the Company’s operating lease liabilities were as follows:


	June 30, 2024
	(in thousands)
Fiscal years ending March 31,
Remainder of 2025 (Remaining nine months)	$	10,416
2026	15,946
2027	15,472
2028	11,666
2029	12,016
Thereafter	29,413
Total future operating lease payments	94,929
Less: imputed interest	(20,766)
Total operating lease liabilities	$	74,163

Balance Sheet Components - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 67,300	$ 67,300
Accumulated Amortization	(36,025)	(34,045)
Total estimated future amortization expense	$ 31,275	$ 33,255
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (Years)	0 years	0 years
Gross Carrying Amount	$ 14,900	$ 14,900
Accumulated Amortization	(14,900)	(14,900)
Total estimated future amortization expense	$ 0	$ 0
Partnerships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (Years)	7 years 3 months 18 days	7 years 7 months 6 days
Gross Carrying Amount	$ 9,000	$ 9,000
Accumulated Amortization	(2,400)	(2,175)
Total estimated future amortization expense	$ 6,600	$ 6,825
Trademark
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (Years)	2 years 3 months 18 days	2 years 7 months 6 days
Gross Carrying Amount	$ 11,000	$ 11,000
Accumulated Amortization	(5,867)	(5,317)
Total estimated future amortization expense	$ 5,133	$ 5,683
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (Years)	4 years 3 months 18 days	4 years 7 months 6 days
Gross Carrying Amount	$ 24,100	$ 24,100
Accumulated Amortization	(9,181)	(8,320)
Total estimated future amortization expense	$ 14,919	$ 15,780
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (Years)	2 years 3 months 18 days	2 years 7 months 6 days
Gross Carrying Amount	$ 2,800	$ 2,800
Accumulated Amortization	(1,493)	(1,353)
Total estimated future amortization expense	$ 1,307	$ 1,447
Patents
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (Years)	4 years 3 months 18 days	4 years 6 months
Gross Carrying Amount	$ 5,500	$ 5,500
Accumulated Amortization	(2,184)	(1,980)
Total estimated future amortization expense	$ 3,316	$ 3,520

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands		1 Months Ended	3 Months Ended		12 Months Ended
	Aug. 26, 2024	May 31, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2024 USD ($)	Nov. 01, 2021 USD ($)
Concentration Risk [Line Items]
Restricted cash			$ 10,500		$ 8,400
Decrease in escrow deposit		$ 6,000	(6,200)
Proceeds from merger					309,700
Proceeds from PIPE investment					250,000
Cash and cash equivalents			$ 169,971	$ 314,351	$ 216,488
Minimum \| Subsequent Event
Concentration Risk [Line Items]
Reverse stock split	0.200
Maximum \| Subsequent Event
Concentration Risk [Line Items]
Reverse stock split	0.0333
Lemonaid Health, Inc.
Concentration Risk [Line Items]
Escrow deposit						$ 13,000
Microarrays \| Cost of Goods and Service, Product and Service Benchmark \| Supplier Concentration Risk
Concentration Risk [Line Items]
% of Revenue			100.00%	100.00%
K I T S \| Cost of Goods and Service, Product and Service Benchmark \| Supplier Concentration Risk
Concentration Risk [Line Items]
% of Revenue			100.00%	100.00%
Laboratory Services \| Cost of Goods and Service, Product and Service Benchmark \| Supplier Concentration Risk
Concentration Risk [Line Items]
% of Revenue			100.00%	100.00%

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Current assets:
Cash and cash equivalents	$ 169,971	$ 216,488
Restricted cash	1,499	1,399
Accounts receivable, net	1,099	3,324
Inventories	14,747	12,465
Deferred cost of revenue	5,046	4,792
Prepaid expenses and other current assets	40,592	16,841
Total current assets	232,954	255,309
Property and equipment, net	26,620	28,351
Operating lease right-of-use assets	47,016	48,894
Restricted cash, noncurrent	8,974	6,974
Internal-use software, net	20,068	20,516
Intangible assets, net	31,275	33,255
Other assets	1,140	1,868
Total assets	368,047	395,167
Current liabilities:
Accounts payable (includes related party amounts of $4,871 and $3,809, respectively)	11,192	11,571
Accrued expenses and other current liabilities (includes related party amounts of $2,452 and $6,752, respectively)	64,673	42,263
Deferred revenue (includes related party amounts of $15,818 and $10,999, respectively)	68,015	64,827
Operating lease liabilities	8,977	8,670
Total current liabilities	152,857	127,331
Deferred revenue, noncurrent (includes related party amounts of $5,000 and $10,000, respectively)	5,000	10,000
Operating lease liabilities, noncurrent	65,186	67,845
Other liabilities	1,500	1,471
Total liabilities	224,543	206,647
Commitments and contingencies (Note 11)
Stockholders’ equity
Preferred stock - par value $0.0001, 10,000,000 shares authorized as of June 30, 2024 and March 31, 2024; zero shares issued and outstanding as of June 30, 2024 and March 31, 2024	0	0
Common stock, par value $0.0001 - Class A shares, 1,140,000,000 shares authorized, 339,502,600 and 323,394,807 shares issued and outstanding as of June 30, 2024 and March 31, 2024, respectively; Class B shares, 350,000,000 shares authorized, 166,507,453 and 166,724,586 shares issued and outstanding as of June 30, 2024 and March 31, 2024, respectively	51	49
Additional paid-in capital	2,385,941	2,361,559
Accumulated deficit	(2,242,488)	(2,173,088)
Total stockholders’ equity	143,504	188,520
Total liabilities and stockholders’ equity	$ 368,047	$ 395,167

Net Loss Per Share Attributable to Common Stockholders - Additional Information (Details) - $ / shares	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Dividends declared (in usd per share)	$ 0	$ 0

Restructuring - Additional Information (Details) - USD ($)	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	$ 4,217,000
Accrued restructuring	$ 0		$ 22,000
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 3,600,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Stockholders' Equity

3 Months Ended

Jun. 30, 2024

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

Common Stock

The Company has authorized Class A common stock and Class B common stock. The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion rights. Holders of Class A common stock are entitled to one vote per share and holders of Class B common stock are entitled to ten votes per share. Each share of Class B common stock is convertible into one share of Class A common stock any time at the option of the holder and is automatically converted into one share of Class A common stock upon transfer (except for certain permitted transfers). Once converted into Class A common stock, the Class B common stock will not be reissued.

Earn-Out Shares

As of June 30, 2024 and March 31, 2024, the Class A common stock included 3,814,125 shares held by VGAC founders (“Earn-Out Shares”) that are subject to a lock-up of seven years from June 16, 2021, the closing date of the Merger. The lock-up has an early release effective (i) with respect to 50% of the Earn-Out Shares, upon the closing price of the Company’s Class A common stock equaling or exceeding $12.50 per share for any 20 trading days within any 30-trading-day period, and (ii) with respect to the other 50% of the Earn-Out Shares, upon the closing price of the Company’s Class A common stock equaling or exceeding $15.00 per share for any 20 trading days within any 30-trading-day period; provided that the transfer restrictions applicable to the Earn-Out Shares will terminate on the date following the closing date on which the Company completes a liquidation, merger, amalgamation, capital stock exchange, reorganization, or other similar transaction that results in all of the Company’s public stockholders having the right to exchange their shares of Class A common stock for cash, securities, or other property (a “Liquidation Event”), if such Liquidation Event occurs prior to the date that the stock price thresholds referenced in (i) and (ii) are met. As of June 30, 2024, the Company did not meet any earn-out thresholds. The Earn-Out Shares are issued and outstanding Class A common shares that cannot be forfeited, and as such, meet the criteria for equity classification in accordance with ASC 505, Equity.

Reserve for Issuance

The Company has the following shares of Class A common stock reserved for future issuance, on an as-if-converted basis:


	June 30, 2024	March 31, 2024
Outstanding stock options	64,832,199	70,739,770
Outstanding restricted stock units	68,278,993	44,056,670
Remaining shares available for future issuance under Amended and Restated 2021 Incentive Equity Plan	77,071,470	111,276,882
Remaining shares available for future issuance under Employee Stock Purchase Plan	12,845,267	12,845,267
Total shares of common stock reserved	223,027,929	238,918,589

At-the-Market (“ATM”) Offering

On February 6, 2023, the Company entered into a sales agreement with Cowen and Company, LLC (“Cowen”), as sales agent, pursuant to which the Company may sell shares of its Class A common stock for an aggregate up to $150.0 million under at-the-market offering program (the “ATM program”). The Company will pay Cowen a commission of 3.0% of the gross proceeds for the Class A common stock sold through the ATM program. As of June 30, 2024, the Company had not made any sales under the ATM program.

- Definition

The entire disclosure for equity.

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+ Details

Stockholders' Equity - Schedule of Common Stock Reserved for Issuance (Details) - shares	Jun. 30, 2024	Mar. 31, 2024
Class of Stock [Line Items]
Outstanding stock options (in shares)	64,832,199	70,739,770
Total shares of common stock reserved (in shares)	223,027,929	238,918,589
2021 Incentive Equity Plan
Class of Stock [Line Items]
Remaining shares available for future issuance under Amended and Restated 2021 Incentive Equity Plan (in shares)	77,071,470	111,276,882
Employee Stock Purchase Plan
Class of Stock [Line Items]
Remaining shares available for future issuance under Employee Stock Purchase Plan (in shares)	12,845,267	12,845,267
Restricted Stock Units
Class of Stock [Line Items]
Outstanding restricted stock units (in shares)	68,278,993	44,056,670

- Definition

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+ Details

Summary of Significant Accounting Policies

3 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation and Principle of Consolidation

The Company’s unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company and its wholly owned subsidiaries, and variable interest entities in which it holds a controlling financial interest. All intercompany accounts and transactions have been eliminated in consolidation.

For the three months ended June 30, 2024 and 2023, the Company’s operations were primarily in the United States. The Company had immaterial operations in the United Kingdom (“U.K.”) prior to the disposition of its U.K. subsidiary on August 1, 2023.

There have been no material changes to the Company’s significant accounting policies during the three months ended June 30, 2024, as compared to the audited consolidated financial statements in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2024 filed with the Securities and Exchange Commission (the “SEC”) on May 30, 2024 (the “Fiscal 2024 Form 10-K”).

Unaudited Interim Condensed Consolidated Financial Information

The accompanying interim condensed consolidated financial statements as of June 30, 2024 and for the three months ended June 30, 2024 and 2023 and accompanying notes, are unaudited. These unaudited interim condensed consolidated financial statements (the “condensed consolidated financial statements”) have been prepared in accordance with GAAP applicable to interim financial statements. These financial statements are presented in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) and do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. As such, the information included herein should be read in conjunction with the consolidated financial statements and accompanying notes as of and for the fiscal year ended March 31, 2024 (the “audited consolidated financial statements”) that were included in the Fiscal 2024 Form 10-K. In management’s opinion, the unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements, which include only normal recurring adjustments, necessary for a fair statement of the Company’s financial position as of June 30, 2024 and its condensed consolidated results of operations and cash flows for the three months ended June 30, 2024 and 2023. The results of operations for the three months ended June 30, 2024 are not necessarily indicative of the results expected for the year ending March 31, 2025 or any other future interim or annual periods.

Fiscal Year

The Company’s fiscal year ends on March 31. References to fiscal 2025 refer to the fiscal year ending March 31, 2025 and references to fiscal 2024 and fiscal 2023 refer to the fiscal years ended March 31, 2024 and March 31, 2023, respectively.

Use of Estimates

The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period and the accompanying notes. Significant items subject to such estimates and assumptions include, but are not limited to the determination of standalone selling price for various performance obligations; the estimated expected benefit period for the rate and recognition pattern of breakage revenue for purchases where a saliva collection kit (“kit”) is never returned for processing; the capitalization and estimated useful life of internal use software; the useful life of long-lived assets; fair value of intangible assets acquired in business combinations; the incremental borrowing rate for operating leases; stock-based compensation including the determination of the fair value of stock options and annual incentive bonuses payable in the form of restricted stock units (“RSUs”); the assumptions used in going concern assessments; and the valuation of deferred tax assets and uncertain tax positions. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from these estimates, and such differences could be material to the condensed consolidated financial statements.

The Company is not aware of any specific event or circumstance that would require revisions to estimates, updates to judgments, or adjustments to the carrying value of assets or liabilities. These estimates may change, as new events occur and/or additional information is obtained, and will be recognized in the condensed consolidated financial statements as soon as they become known.

Concentration of Supplier Risk

Certain of the raw materials, components, and equipment associated with the deoxyribonucleic acid (“DNA”) microarrays and kits used by the Company in the delivery of its services are available only from third-party suppliers. The Company also relies on a third-party laboratory service for the processing of its customer samples. Shortages and slowdowns could occur in these essential materials, components, equipment, and laboratory services due to an interruption of supply or increased demand in the industry. If the Company were unable to procure certain materials, components, equipment, or laboratory services at acceptable prices, it would be required to reduce its laboratory operations, which could have a material adverse effect on its results of operations.

A single supplier accounted for 100% of the Company’s total purchases of microarrays, and a separate single supplier accounted for 100% of the Company’s total purchases of kits for the three months ended June 30, 2024 and 2023. One laboratory service provider accounted for 100% of the Company’s processing of customer samples for the three months ended June 30, 2024 and 2023.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to a concentration of credit risk include cash, cash equivalents, and accounts receivable. The Company maintains a majority of its cash and cash equivalents with a single high-quality financial institution, the composition and maturities of which are regularly monitored by the Company. The Company’s revenue and accounts receivable are derived primarily from the United States. See Note 3, “Revenue,” for additional information regarding geographical disaggregation of revenue. The Company grants credit to its customers in the normal course of business, performs credit evaluations of its significant customers on an as-needed basis, and does not require collateral. Concentrations of credit risk are limited as the Company’s trade receivables are primarily related to third parties, which collect its credit card receivables, and large multinational corporations. The Company regularly monitors the aging of accounts receivable balances.

Significant customer information is as follows:


	June 30, 2024		March 31, 2024
Percentage of accounts receivable:
Customer C(1)	55	%	59	%
Customer H	23	%	—
Customer I	—		30	%

(1)Customer C is a reseller.


	Three Months Ended June 30,
	2024		2023
Percentage of revenue:
Customer C(1)	19	%	16	%
Customer B	—		18	%

(1)Customer C is a reseller.

Cash, Cash Equivalents and Restricted Cash

Cash consists of bank deposits held at financial institutions. Cash in U.S. banks is insured to the extent defined by the Federal Deposit Insurance Corporation. Cash equivalents consist primarily of short-term money market funds. The Company maintains certain cash amounts restricted as to its withdrawal or use, which are related to letters of credit in connection with operating lease agreement and the Company’s credit card processor, as well as collateral held against the Company’s corporate credit cards. The Company held total restricted cash of $10.5 million and $8.4 million as of June 30, 2024 and March 31, 2024, respectively. The increase relates to a new letter of credit entered into by the Company in April 2024 as collateral related to the Company’s credit card processor.

Escrow Related to Acquisition

On November 1, 2021, the Company completed its acquisition of Lemonaid Health, and upon the acquisition closing date, a cash payment of $13.0 million was placed in escrow to cover a potential purchase price adjustment and to secure the indemnification obligations of the former equity holders of Lemonaid Health. In May 2023, $6.0 million of the

escrow amount was released. The remaining escrow amount of $6.2 million were released during the three months ended June 30, 2024. Accordingly, the entire escrow amount has been released.

Liquidity

The Company’s operations have been financed primarily through the sales of equity securities and sales of Personal Genome Service® (“PGS”), telehealth, and research services. During fiscal 2023, the Company received gross proceeds of $309.7 million in connection with the transactions contemplated by that certain Agreement and Plan of Merger (the “Merger Agreement”), dated February 4, 2021, as amended on February 13, 2021 and March 25, 2021, by and among VG Acquisition Corp., Chrome Merger Sub, Inc., and 23andMe, Inc. (the “Merger”), and $250.0 million from the PIPE investment consummated in connection with the Merger. The Company expects to continue to incur operating losses and negative cash flows from operations for the foreseeable future due to the investments it intends to continue to make in research and development to capitalize on market opportunities and drive long-term growth, as well as operating expenses incurred within general and administrative, and sales and marketing.

The Company will require additional financing to execute ongoing and future operations. The Company’s ability to obtain additional financing depends on a number of factors, including, but not limited to, the market price of the Company’s Class A common stock, the availability and cost of additional equity capital, the Company’s ability to retain the listing of its Class A common stock on The Nasdaq Stock Market, and the general economic and industry conditions affecting the availability and cost of capital. The Company is dependent upon future financing to provide the cash necessary to execute our ongoing and future operations. Management will continue to monitor the Company’s liquidity position.

In connection with preparing the accompanying condensed consolidated financial statements, the Company is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the condensed consolidated financial statements are issued. As of June 30, 2024, the Company had cash and cash equivalents of $170.0 million. Based on current cash resources and the implementation of the previously-disclosed reductions in force in June and August 2023, the Company believes that its cash and cash equivalents will be sufficient to fund estimated operating expenses and capital expenditure requirements for at least 12 months and that the potential conditions or events discussed above in the aggregate do not raise substantial doubt for a period of at least 12 months from the date the condensed consolidated financial statements are issued.

On November 10, 2023, the Company received a deficiency letter (the “Nasdaq Letter”) from the Nasdaq Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”), notifying the Company that it is not in compliance with Nasdaq Listing Rule 5450(a)(1), which requires the Company to maintain a minimum bid price of at least $1.00 per share for continued listing on The Nasdaq Global Select Market (the “Minimum Bid Requirement”). The Company’s failure to comply with the Minimum Bid Requirement was based on its Class A common stock per share price being below the $1.00 threshold for a period of 30 consecutive trading days. Pursuant to the Nasdaq Letter, the Company had an initial 180 calendar days from the date of the Nasdaq Letter to regain compliance. The Company did not regain compliance during the initial compliance period.

On May 9, 2024, the Company received a notification letter from the Staff notifying the Company that it had been granted an additional 180 days, or until November 4, 2024, to regain compliance with the Minimum Bid Requirement, based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on The Nasdaq Capital Market with the exception of the bid price requirement, and the Company’s written notice of its intention to cure the deficiency during the second compliance period. In order to be eligible to receive the second compliance period, the Company applied to have its Class A common stock transferred from the Nasdaq Global Select Market to the Nasdaq Capital Market.

If at any time before November 4, 2024, the bid price of the Class A common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Staff will provide written confirmation that the Company has achieved compliance. If the Company does not regain compliance with the Minimum Bid Requirement by the end of the second compliance period, the Class A common stock will become subject to delisting. In the event that the Company receives notice that the Class A common stock is being delisted, the Nasdaq listing rules permit the Company to appeal a delisting determination by the Staff to a hearings panel.

The Company intends to monitor the closing bid price of its common stock between now and November 4, 2024, and will consider available options to regain compliance with the Minimum Bid Requirement. In connection with the foregoing, on July 16, 2024, the Company filed a Definitive Proxy Statement on Schedule 14A (the “Proxy Statement”) with the SEC in connection with the Company’s 2024 Annual Meeting of Stockholders to be held on August 26, 2024 (the

“Annual Meeting”). As described in the Proxy Statement, at the Annual Meeting, the stockholders of the Company will vote on a proposal to approve an amendment to the Company’s Certificate of Incorporation to combine outstanding shares of the Company’s Class A common stock and Class B common stock, respectively, into a lesser number of outstanding shares, or a “reverse stock split,” by a ratio of not less than one-for-five and not more than one-for-thirty, with the exact ratio to be set within this range by the Company’s Board of Directors in its sole discretion (“Reverse Stock Split Vote”). However, there can be no assurance that the Reverse Stock Split Vote will be approved by the Company’s stockholders, that the Company will effect the reverse stock split and regain compliance with the Minimum Bid Requirement or that the Company will be able to otherwise regain compliance with the Minimum Bid Requirement or will be in compliance with other Nasdaq Listing Rules.

Neither the Nasdaq Letter nor the Company’s noncompliance with the Minimum Bid Requirement have an immediate effect on the listing or trading of the Class A common stock, which will continue to trade on The Nasdaq Stock Market under the symbol “ME.”

Recently Issued Accounting Pronouncements Not Yet Effective

In November 2023, the Financial Accounting Standard Board (“FASB”) issued Accounting Standard Updated (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires disclosure of incremental segment information on an annual and interim basis. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and requires retrospective application to all prior periods presented in the financial statements. Early adoption is permitted. The Company is currently evaluating the impacts of the new standard.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands disclosures in an entity’s income tax rate reconciliation table and income taxes paid information. This ASU is effective for fiscal years beginning after December 15, 2024 and may be adopted on a prospective or retrospective basis. Early adoption is permitted. The Company is currently evaluating the impacts and method of adoption.

Net Loss Per Share Attributable to Common Stockholders

3 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Net Loss Per Share Attributable to Common Stockholders

The net loss attributable to common stockholders is allocated on a proportionate basis, and the resulting net loss per share is identical for Class A common stock and Class B common stock under the two-class method.

No dividends were declared or paid for the three months ended June 30, 2024 and 2023.

The Company’s stock options, RSUs, restricted stock awards subject to vesting, estimated RSUs to be issued under the AIP and estimated shares to be issued under the ESPP are considered to be potential common stock equivalents but have been excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect is anti-dilutive.

Net loss attributable to common stockholders was equivalent to net loss for all periods presented.

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the periods presented:


	Three Months Ended June 30,
	2024				2023
	Class A		Class B		Class A		Class B
	(in thousands, except share and per share data)
Numerator:
Net loss attributable to common stockholders	$	(46,075)	$	(23,325)	$	(66,563)	$	(38,061)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	329,225,146		166,667,769		294,089,562		168,164,880
Net loss per share attributable to common stockholders:
Net loss per share attributable to common stockholders, basic and diluted	$	(0.14)	$	(0.14)	$	(0.23)	$	(0.23)

The potential shares of Class A common stock outstanding that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive were as follows:


	Three Months Ended June 30,
	2024	2023
Outstanding stock options	64,832,199	68,386,690
Unvested restricted stock units	68,278,993	42,629,558
Shares subject to vesting	—	334,794
ESPP	2,380,043	2,776,927
Total	135,491,235	114,127,969

There were no potential shares of Class B common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented.

Stockholders' Equity - Additional Information (Details) $ / shares in Units, $ in Millions		3 Months Ended	12 Months Ended
	Feb. 06, 2023 USD ($)	Jun. 30, 2024 Vote $ / shares shares	Mar. 31, 2024 shares
Class of Stock [Line Items]
Stock split description		Each share of Class B common stock is convertible into one share of Class A common stock any time at the option of the holder and is automatically converted into one share of Class A common stock upon transfer
Cowen and Company LLC
Class of Stock [Line Items]
Commission fees payable, percentage	3.00%
At-the Market Offering Program
Class of Stock [Line Items]
Sale of stock aggregate (up to) \| $	$ 150.0
VG Acquisition Sponsor LLC
Class of Stock [Line Items]
Lockup period for shares		7 years	7 years
Earn-out shares, percentage		50.00%
VG Acquisition Sponsor LLC \| Maximum
Class of Stock [Line Items]
Share price thresholds release from lock up (in usd per share) \| $ / shares		$ 15.00
Class A Common Stock
Class of Stock [Line Items]
Number of votes \| Vote		1
Class A Common Stock \| VG Acquisition Sponsor LLC
Class of Stock [Line Items]
Earnout shares (in shares) \| shares		3,814,125	3,814,125
Earn-out shares, percentage		50.00%
Trading days		20 days
Number of trading days after commencing		30 days
Class A Common Stock \| VG Acquisition Sponsor LLC \| Minimum
Class of Stock [Line Items]
Share price thresholds release from lock up (in usd per share) \| $ / shares		$ 12.50
Class B Common Stock
Class of Stock [Line Items]
Number of votes \| Vote		10

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (69,400)	$ (104,624)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	3,987	6,868
Amortization and impairment of internal-use software	1,799	1,248
Stock-based compensation expense	21,577	51,100
Gain on disposal of property and equipment	(44)	(5)
Changes in operating assets and liabilities:
Accounts receivable, net (includes related party amounts of nil and $18 for the three months ended June 30, 2024 and 2023, respectively)	2,226	(2,227)
Inventories	(2,283)	(1,568)
Deferred cost of revenue	(254)	(1,925)
Prepaid expenses and other current assets	378	(1,928)
Operating lease right-of-use assets	1,878	1,749
Other assets	728	408
Accounts payable (includes related party amounts of $1,062 and $325 for the three months ended June 30, 2024 and 2023, respectively)	(309)	(2)
Accrued expenses and other current liabilities (includes related party amounts of $(4,300) and $(3,215) for the three months ended June 30, 2024 and 2023, respectively)	581	(1,889)
Deferred revenue (includes related party amounts of $(181) and $(10,670) for the three months ended June 30, 2024 and 2023, respectively)	(1,812)	(14,398)
Operating lease liabilities	(2,351)	(2,070)
Other liabilities	29	(92)
Net cash used in operating activities	(43,270)	(69,355)
Cash flows from investing activities:
Purchases of property and equipment	(366)	(419)
Proceeds from sale of property and equipment	148	5
Capitalized internal-use software costs	(938)	(2,281)
Net cash used in investing activities	(1,156)	(2,695)
Cash flows from financing activities:
Proceeds from exercise of stock options	58	69
Payments of deferred offering costs	(1)	(62)
Payments for taxes related to net share settlement of equity awards	(48)	(121)
Net cash provided by (used in) financing activities	9	(114)
Effect of exchange rates on cash and cash equivalents	0	(334)
Net decrease in cash, cash equivalents and restricted cash	(44,417)	(72,498)
Cash, cash equivalents and restricted cash—beginning of period	224,861	395,222
Cash, cash equivalents and restricted cash—end of period	180,444	322,724
Supplemental disclosures of non-cash investing and financing activities:
Purchases of property and equipment included in accounts payable and accrued expenses	111	176
Stock-based compensation capitalized for internal-use software costs	414	1,188
Deferred offering costs during the period included in accounts payable and accrued expenses	0	100
Reconciliation of cash, cash equivalents, and restricted cash within the condensed consolidated balance sheets to the amounts shown in the condensed consolidated statements of cash flows above:
Cash and cash equivalents	169,971	314,351
Restricted cash, current	1,499	1,399
Restricted cash, noncurrent	8,974	6,974
Total cash, cash equivalents and restricted cash	$ 180,444	$ 322,724

Balance Sheet Components - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 109,994	$ 110,082
Less: accumulated depreciation and amortization	(83,374)	(81,731)
Property and equipment, net	26,620	28,351
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	7,399	7,485
Laboratory equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	51,419	51,635
Furniture and office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	8,929	8,929
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	41,394	41,180
Capitalized asset retirement obligations
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 853	$ 853

Collaborations	3 Months Ended
Collaborations	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaborations	Collaborations GlaxoSmithKline Agreement and Subsequent Amendments In July 2018, the Company and an affiliate of GlaxoSmithKline (“GSK”) entered into a four-year exclusive drug discovery and development collaboration agreement, amended in 2019 and 2021, respectively (as amended, the “original GSK Agreement”), for collaboration on identification and development of therapeutic agents with a unilateral option for GSK to extend the term for an additional year. In January 2022, GSK elected to exercise the option to extend the exclusive target discovery term for an additional year to July 23, 2023, after which it expired under the original GSK Agreement. The Company has concluded that GSK is considered a customer. Therefore, the Company applied the guidance in ASC 606 to account for and present consideration received from GSK related to research services provided by the Company. The Company’s activities under the original GSK Agreement, which included reporting, drug target discovery, and joint steering committee participation, represented one combined performance obligation to deliver research services. The Company recognized research services revenue related to the original GSK Agreement as the respective performance obligations were satisfied using an input method to measure progress. In addition, the original GSK Agreement, provided GSK the right to include certain identified pre-existing Company programs in the collaboration at GSK’s election, each of which was considered distinct from the research services. Prior to the expiration of the original GSK Agreement, drug targets were identified for inclusion in the collaboration during the performance of research services. Cost sharing related to the performance of research services was recorded when incurred within cost of revenue in the Consumer and Research Services segment. For the drug targets that had been identified for inclusion in the original collaboration, the Company and GSK continue to equally share in the costs of further research, development, and commercialization of identified targets under the original GSK Agreement, subject to certain rights of either party to opt-out of funding at certain predetermined development milestones. These cost-sharing charges for the program costs incurred subsequent to the identification of drug targets have been included in research and development expense on the condensed consolidated statements of operations and comprehensive loss during the period incurred. The Company may also share in the net profits or losses of products that are commercialized pursuant to the collaboration or receive royalties on products which are successfully commercialized. In October 2023, the Company entered into an amendment to the original GSK Agreement (the “2023 GSK Amendment”) to provide GSK with a non-exclusive license to certain new, de-identified, aggregated data included in the Company’s database (the “New Data”), as well as access to certain Company research services with respect to such New Data in return for a $20.0 million data access fee, which the Company received during fiscal 2024. The license to the New Data will expire one year from the date GSK provides the Company with a notice that GSK is ready to use the New Data, unless the parties enter into a separate extension agreement. The notice is anticipated no later than September 30, 2024 and had not yet been received as of June 30, 2024. Pursuant to the 2023 GSK Amendment, the Company opted-out of cost-sharing and other research and development obligations with respect to three programs initiated by GSK and the Company under the original GSK Agreement. The Company will retain rights to receive low to mid-single digit royalties on net sales of products developed in these three programs. The Company recognized research services revenue related to the original GSK Agreement of nil and $10.7 million during the three months ended June 30, 2024 and 2023, respectively. The Company did not recognize research services revenue related to the 2023 GSK Amendment during the three months ended June 30, 2024 and 2023. As of June 30, 2024 and March 31, 2024, the Company had deferred revenue of $20.0 million, related to the 2023 GSK Amendment. Cost-sharing amounts incurred prior to the identification of targets included in cost of revenue were nil and $0.3 million for the three months ended June 30, 2024 and 2023, respectively. Cost-sharing amounts incurred subsequent to the identification of targets, included in research and development expenses, were $0.6 million and $3.3 million during the three months ended June 30, 2024 and 2023, respectively. As of June 30, 2024 and March 31, 2024, the Company had $7.3 million and $10.6 million, respectively, related to balances of amounts payable to GSK for reimbursement of shared costs included within accounts payable and accrued expenses and other current liabilities on the condensed consolidated balance sheets. GSK’s affiliate, Glaxo Group Limited, is considered as a related party to the Company. See Note 18 “Related Party Transactions.”

Retirement Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended
Retirement Benefit Plans (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Retirement Benefits [Abstract]
Employer matching contribution, percent of match	100.00%
Employer matching contribution, percent of employees' gross pay	2.00%
Employer matching contribution	$ 2,300
Contributions cost	$ 500	$ 900

Balance Sheet Components - Schedule of Accrued Expense and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Accrued payables	$ 7,953	$ 9,697
Accrued settlement and legal expenses	34,655	3,260
Accrued compensation and benefits	3,952	4,266
Accrued vacation	7,185	7,221
Accrued bonus	4,459	7,420
Accrued clinical expenses	5,294	9,291
Accrued taxes and other	1,175	1,108
Total accrued expenses and other current liabilities	$ 64,673	$ 42,263

Segment Information - Schedule of Customers Accounting for 10% or More of Segment Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Recognized revenue	$ 40,414	$ 60,864
Customer C \| Consumer and Research Services \| Revenue \| Customer Concentration Risk
Segment Reporting Information [Line Items]
Recognized revenue	$ 7,577	$ 9,711
% of Revenue	19.00%	16.00%
Customer B \| Consumer and Research Services \| Revenue \| Customer Concentration Risk
Segment Reporting Information [Line Items]
Recognized revenue	$ 1	$ 10,670
% of Revenue	0.00%	18.00%

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
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-Section 50
-Paragraph 1
-Subparagraph (i)
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-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
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+ Details

Restructuring - Schedule of Restructuring and Related Costs (Details) - USD ($)	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Restructuring Reserve [Roll Forward]
Accrued restructuring costs included in accrued expenses and other current liabilities as of March 31, 2024	$ 22,000
Restructuring charges incurred during the period	0	$ 4,217,000
Amounts paid during the period	(22,000)
Accrued restructuring costs included in accrued expenses and other current liabilities as of June 30, 2024	$ 0

Variable Interest Entities	3 Months Ended
Variable Interest Entities	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities In providing telehealth services that include professional medical consultations, the Company maintains relationships with various affiliated professional medical corporations (“PMCs”). Additionally, with respect to its telehealth services involving the sale of prescription products, the Company maintains relationships with affiliated pharmacies (collectively, the “Affiliated Pharmacies”) to fill prescriptions that are ordered by the Company’s patients. On February 15, 2024, the Company acquired full ownership of the active Affiliated Pharmacies, and thereafter the Company ceased to treat the Affiliated Pharmacies as Variable Interest Entities (“VIEs”). The Company determined that the PMCs are, and prior to being acquired by the Company, the Affiliated Pharmacies were, VIEs, in each case due to the respective equity holders having nominal capital at risk and the Company having a variable interest in each of the PMCs and, prior to acquiring them, the Affiliated Pharmacies. Until February 15, 2024, the Company consolidated the PMCs and Affiliated Pharmacies under the VIE model since the Company had the power to direct activities that most significantly impact the VIEs’ economic performance and the right to receive benefits or the obligation to absorb losses that could potentially be significant to the VIEs. Under the VIE model, the Company presents the results of operations and the financial position of the VIEs as part of the condensed consolidated financial statements of the Company. There was no impact to the Company’s condensed consolidated financial statements as a result of the Affiliated Pharmacies being acquired by the Company. Furthermore, as a direct result of the financial support the Company provided to the VIEs (e.g., loans), the interests held by holders lacked economic substance and did not provide them with the ability to participate in the residual profits or losses generated by the VIEs. Therefore, all income and expenses recognized by the VIEs were allocated to the Company’s stockholders. The aggregate carrying value of total assets and total liabilities included on the condensed consolidated balance sheets for the VIEs after elimination of intercompany transactions were not material as of June 30, 2024 and March 31, 2024. Total revenue included in the condensed consolidated statements of operations and comprehensive loss for the VIEs after elimination of intercompany transactions was $0.9 million and $9.0 million for the three months ended June 30, 2024 and 2023, respectively. The Company maintains the ability to control the VIEs, is entitled to substantially all of the economic benefits from the VIEs, and is obligated to absorb all expected losses of the VIEs.

Cover - shares	3 Months Ended
Cover - shares	Jun. 30, 2024	Jul. 31, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-39587
Entity Registrant Name	23ANDME HOLDING CO
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-1240344
Entity Address, Address Line One	349 Oyster Point Boulevard
Entity Address, City or Town	South San Francisco,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94080
City Area Code	650
Local Phone Number	938-6300
Title of each class	Class A common stock, $0.0001 par value per share
Trading Symbol(s)	ME
Name of each exchange on which registered	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001804591
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Amendment flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		339,502,600
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		166,507,453

Collaborations (Details)	1 Months Ended		3 Months Ended		12 Months Ended
Collaborations (Details)	Oct. 31, 2023 program	Jul. 31, 2018	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2024 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total revenue			$ 40,414,000	$ 60,864,000
Deferred revenue, current			68,015,000		$ 64,827,000
Cost of revenue			19,900,000	30,184,000
G S K 2023 Amendment
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from license fees received					20,000,000
License for data access, expiration period	1 year
Programs, opted-out of cost sharing and other research and development \| program	3
G S K 2023 Amendment \| Related Party
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total revenue			0	0
Deferred revenue			20,000,000.0		20,000,000.0
G S K
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaboration agreement, period		4 years
G S K \| Related Party
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total revenue			0	10,700,000
Cost of revenue			0	300,000
Research and development expense			600,000	$ 3,300,000
Accounts payable, accrued expenses and other current liabilities			$ 7,300,000		$ 10,600,000

Fair Value Measurements - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair value transfers between levels	$ 0	$ 0

Equity Incentive Plans and Stock-Based Compensation - Schedule of Stock Option Activity and Activity Regarding Shares Available for Grant (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024
Outstanding Stock Options
Balance, beginning of period (in shares)	70,739,770
Granted (in shares)	0
Exercised (in shares)	(137,776)
Cancelled/forfeited/expired (in shares)	(5,769,795)
Balance, end of period (in shares)	64,832,199	70,739,770
Vested and exercisable as of end of period (in shares)	50,032,139
Weighted-Average Exercise Price
Balance, beginning of period (in usd per share)	$ 3.68
Granted (in usd per share)	0
Exercised (in usd per share)	0.42
Cancelled/Forfeited/Expired (in usd per share)	4.71
Balance, end of period (in usd per share)	3.60	$ 3.68
Vested and exercisable as of end of period (in usd per share)	$ 3.99
Weighted-Average Remaining Contractual Life (Years)
Balance, beginning of period	5 years 1 month 6 days	5 years 1 month 6 days
Balance, end of period	5 years 1 month 6 days	5 years 1 month 6 days
Vested and exercisable as of end of period	4 years 1 month 6 days
Aggregate Intrinsic Value
Balance, beginning of period	$ 306
Balance, end of period	61	$ 306
Vested and exercisable as of end of period	$ 61

Condensed Consolidated Statements of Operations and Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Revenue, related party	$ 40,414	$ 60,864
Cost of revenue, related party	19,900	30,184
Research and development, related party expenses	44,637	62,329
Related Party
Revenue, related party	181	10,670
Cost of revenue, related party	0	275
Research and development, related party expenses	$ 571	$ 3,301

- Definition

The aggregate cost of goods produced and sold and services rendered during the reporting period.

+ References

+ Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Commitments and Contingencies (Details) - USD ($) $ in Thousands		3 Months Ended
	Jul. 15, 2024	Jun. 30, 2024	Jun. 30, 2023
Loss Contingencies [Line Items]
Purchase obligations		$ 64,400
Expense related to cyber security incident		9,429	$ 0
Cyber Security Incident
Loss Contingencies [Line Items]
Expense related to cyber security incident		9,400
Legal settlement costs		31,600
Probable insurance recoveries		$ 22,200
Subsequent Event \| Cyber Security Incident
Loss Contingencies [Line Items]
Aggregate cash payment	$ 30,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Related Party Transactions	3 Months Ended
Related Party Transactions	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions As described in Note 4, “Collaborations,” in July 2018, the Company and GSK entered into the original GSK Agreement, and there were transactions with GSK during the three months ended June 30, 2024 and 2023. At the time the original GSK Agreement was entered into, GSK also purchased 17,291,066 shares of Series F-1 redeemable convertible preferred stock of 23andMe, Inc. These shares were converted into a like number of shares of 23andMe, Inc. Class B common stock immediately prior to the Merger and were exchanged pursuant to the share conversion ratio provided for in the Merger Agreement into shares of the Company’s Class B common stock. GSK had a 19.8% and 19.9% voting interest in the Company as of June 30, 2024 and March 31, 2024, respectively. The Anne Wojcicki Foundation, which subscribed for 2,500,000 shares of the Company’s Class A common stock in the PIPE investment in connection with the Merger, is affiliated with the Company’s CEO and therefore a related party. In January 2024, the Company entered into a research services agreement (the “TWF Agreement”) and related statement of work (the “initial SOW”) with the Troper Wojcicki Foundation (“TWF”) with the goal of expanding scientific knowledge in the field of lung cancer using the Company’s phenotype and genotype data to build large scale research cohorts. Susan Wojcicki is a director and officer of TWF, and a sibling of the Company’s CEO, Anne Wojcicki, and therefore the Company determined that TWF is a related party. The TWF Agreement has a term of five years through December 21, 2028. The fees under the initial SOW are $5.4 million, payable in installments over the term of the TWF Agreement, with certain payments being subject to the achievement of specified milestones. During the three months ended June 30, 2024 and 2023, the Company recognized revenue of $0.2 million and nil, respectively, from TWF. As of June 30, 2024 and March 31, 2024, the Company had deferred revenue of $0.8 million and $1.0 million, respectively, associated with this arrangement.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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+ Details

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Non-cancelable Purchase Obligations In the normal course of business, the Company enters into agreements containing non-cancelable purchase commitments for goods or services with various parties, which include agreements to purchase goods or services that are enforceable and legally binding to the Company. Recognition of purchase obligations occurs when products or services are delivered to the Company, generally within accounts payable, or accrued and other current liabilities. As of June 30, 2024, the Company had a total of $64.4 million in outstanding non-cancelable purchase obligations with a term of 12 months or longer that have not been recognized on its balance sheet. Legal Matters Cyber Security Incident On October 10, 2023, the Company reported that certain information was accessed from individual 23andMe.com accounts without the account users’ authorization (the “incident”). As a result of the incident, multiple class action claims have been filed against the Company in federal and state courts in California, as well as in other U.S. and international jurisdictions, and the Company has received demand letters from attorneys purporting to represent customers seeking arbitration claims. The Company is also responding to inquiries from various governmental officials and agencies. The federal class action claims were coordinated for pretrial proceedings by the Multidistrict Litigation Panel, and on June 5, 2024, co-lead plaintiffs’ counsel were appointed. On July 15, 2024, the Company reached an agreement in principle to settle the putative class action lawsuits currently pending in the U.S. District Court for the Northern District of California (the “Court”). The parties executed a confidential settlement term sheet on July 29, 2024. The proposed settlement contemplates an aggregate cash payment by the Company of $30.0 million to settle all claims brought on behalf of all persons in the United States whose personal information was impacted by the incident. In addition, the Company will document various business practice initiatives relating to cybersecurity. The Company anticipates that, upon Court approval, the settlement will provide a full release of all claims arising out of the incident by the class action members (who do not opt out) against the Company. The settlement is not an admission of fault or wrongdoing by the Company; the Company believes that a resolution of these claims at this time is in the best interest of the Company and its stockholders given the costs and risks inherent in litigation. Approval by the Court, notice to the putative class, and the satisfaction of customary conditions to effectiveness will take at least six months. During the three months ended June 30, 2024, the Company recognized an additional $9.4 million in net expenses related to the incident primarily consisting of $31.6 million legal fees incurred and the proposed settlement amount, partially offset by probable insurance recoveries of $22.2 million as of June 30, 2024, within general and administrative expense in the condensed consolidated statements of operations and comprehensive loss. Indemnification The Company enters into indemnification provisions under agreements with other companies in the ordinary course of business, including, but not limited to, collaborators, landlords, vendors, and contractors. Pursuant to these arrangements, the Company agrees to indemnify, defend, and hold harmless the indemnified party for certain losses suffered or incurred by the indemnified party as a result of the Company’s activities. The maximum potential amount of future payments the Company could be required to make under these agreements is not determinable. As of the date of this filing, the Company has never incurred costs to defend lawsuits or settle claims related to these indemnification provisions. As a result, the Company believes that the fair value of these provisions is not material. The Company maintains insurance, including commercial general liability insurance and product liability insurance, to offset certain potential liabilities under these indemnification provisions. In addition, the Company indemnifies its officers, directors, and certain key employees against claims made with respect to matters that arise while they are serving in their respective capacities as such, subject to certain limitations set forth under applicable law, the Company’s Bylaws, and applicable indemnification agreements. As of June 30, 2024, the Company was not aware of any known events or circumstances that have resulted in a material claim related to these indemnification obligations.

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Schedule of Significant Customer Information

Significant customer information is as follows:


	June 30, 2024		March 31, 2024
Percentage of accounts receivable:
Customer C(1)	55	%	59	%
Customer H	23	%	—
Customer I	—		30	%

(1)Customer C is a reseller.


	Three Months Ended June 30,
	2024		2023
Percentage of revenue:
Customer C(1)	19	%	16	%
Customer B	—		18	%

(1)Customer C is a reseller.

Equity Incentive Plans and Stock-Based Compensation - Additional Information (Details)				1 Months Ended	3 Months Ended		12 Months Ended
	Sep. 06, 2023 USD ($) shares	Sep. 05, 2023 USD ($)	Jun. 10, 2021 shares	Nov. 30, 2021 USD ($) stockholder shares	Jun. 30, 2024 USD ($) non-employeeDirector tradingDay $ / shares shares	Jun. 30, 2023 USD ($) officer $ / shares shares	Mar. 31, 2024 USD ($) shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense					$ 21,577,000	$ 51,100,000
Weighted-average grant date fair values of options granted (in usd per share) \| $ / shares					$ 0	$ 1.43
Intrinsic value of vested options exercised					$ 0	$ 200,000
Unrecognized stock-based compensation cost					$ 22,200,000
Weighted average period over which unrecognized compensation is expected to be recognized					2 years 1 month 6 days
Granted (in shares) \| shares					0
Shares reserved for future issuance (in shares) \| shares					223,027,929		238,918,589
Lemonaid Health, Inc.
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period				4 years
Common stock granted subject to vest, Weighted average grant date fair value				$ 43,900,000
Former officers terminated \| officer						1
Outstanding stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Tax benefit recognized from stock option exercises					$ 0	$ 0
Outstanding stock options \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	3 years
Outstanding stock options \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	4 years
Unvested restricted stock units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares) \| shares					42,032,239
Weighted average period over which unrecognized compensation is expected to be recognized					2 years 1 month 6 days
Unrecognized stock-based compensation cost					$ 90,100,000
Former Lemonaid Officer \| Lemonaid Health, Inc.
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized stock-based compensation cost					0
Former Lemonaid Officer \| Lemonaid Health, Inc. \| General and administrative
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense					$ 0	24,700,000
Former Lemonaid Officer \| Unvested restricted stock units \| Lemonaid Health, Inc. \| General and administrative
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense						22,000,000.0
Class A Common Stock \| Lemonaid Health, Inc.
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock granted subject to vest (in shares) \| shares				3,747,027
Class A Common Stock \| Former Lemonaid Officer \| Lemonaid Health, Inc.
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Former stockholders who were granted shares \| stockholder				2
A&R Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Percentage of shares automatically added annually	5.00%	3.00%
Non-employee directors, electing to convert cash compensation to RSUs \| non-employeeDirector					4
Non-employee directors, electing to defer settlement of RSUs \| non-employeeDirector					2
A&R Plan \| Outstanding stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation terms of award	Options have a contractual life of up to ten years. The exercise price of a stock option shall not be less than 100% of the estimated fair value of the shares on the date of grant, as determined by the Board of Directors.
Share-based payment award, expiration period	10 years
Number of shares of common stock received for each option exercised	1
A&R Plan \| Outstanding stock options \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Exercise price of stock options as a percentage of fair value of shares	100.00%
A&R Plan \| Unvested restricted stock units \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	1 year
A&R Plan \| Unvested restricted stock units \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	4 years
A&R Plan \| Director \| Share-Based Payment Arrangement, Nonemployee
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Annual compensation limit	$ 400,000	$ 300,000
A&R Plan \| Class A Common Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Additional shares authorized (in shares) \| shares	75,000,000
Annual Incentive Plan \| Unvested restricted stock units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Performance period							1 year
Granted (in shares) \| shares					12,144,435
Total stock-based compensation expense					$ 4,100,000	$ 4,400,000
Other current liabilities for awards					$ 4,100,000		$ 6,500,000
Annual Incentive Plan \| Class A Common Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Days preceding date of payment \| tradingDay					20
ESPP \| Outstanding stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock issued and outstanding, percentage			1.00%
Potential annual increase in shares reserved for future issuance (in shares) \| shares			5,000,000
ESPP \| Employee Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
ESPP concurrent offering period					12 months
ESPP successive purchase period					6 months
ESPP \| Class A Common Stock \| Outstanding stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares reserved for future issuance (in shares) \| shares			11,420,000
Issuance of common stock under employee stock purchase plan (in shares) \| shares					0	0

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net loss	$ (69,400)	$ (104,624)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/exampleRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 35: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stockholders' Equity (Tables)

3 Months Ended

Jun. 30, 2024

Equity [Abstract]

Schedule of Common Stock Reserved for Issuance

The Company has the following shares of Class A common stock reserved for future issuance, on an as-if-converted basis:


	June 30, 2024	March 31, 2024
Outstanding stock options	64,832,199	70,739,770
Outstanding restricted stock units	68,278,993	44,056,670
Remaining shares available for future issuance under Amended and Restated 2021 Incentive Equity Plan	77,071,470	111,276,882
Remaining shares available for future issuance under Employee Stock Purchase Plan	12,845,267	12,845,267
Total shares of common stock reserved	223,027,929	238,918,589

Net Loss Per Share Attributable to Common Stockholders (Tables)

3 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the periods presented:


	Three Months Ended June 30,
	2024				2023
	Class A		Class B		Class A		Class B
	(in thousands, except share and per share data)
Numerator:
Net loss attributable to common stockholders	$	(46,075)	$	(23,325)	$	(66,563)	$	(38,061)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	329,225,146		166,667,769		294,089,562		168,164,880
Net loss per share attributable to common stockholders:
Net loss per share attributable to common stockholders, basic and diluted	$	(0.14)	$	(0.14)	$	(0.23)	$	(0.23)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share


	Three Months Ended June 30,
	2024	2023
Outstanding stock options	64,832,199	68,386,690
Unvested restricted stock units	68,278,993	42,629,558
Shares subject to vesting	—	334,794
ESPP	2,380,043	2,776,927
Total	135,491,235	114,127,969

Segment Information (Tables)

3 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Revenue and Adjusted EBITDA by Segment

The Company’s revenue and Adjusted EBITDA by segment is as follows:


	Three Months Ended June 30,
	2024		2023
	(in thousands)
Segment Revenue: (1)
Consumer and Research Services	$	40,414	$	60,864
Total revenue	$	40,414	$	60,864
Segment Adjusted EBITDA:
Consumer and Research Services Adjusted EBITDA	$	(8,841)	$	(5,602)
Therapeutics Adjusted EBITDA	(12,417)		(31,138)
Unallocated Corporate	(13,904)		(13,060)
Total Adjusted EBITDA	$	(35,162)	$	(49,800)
Reconciliation of net loss to Adjusted EBITDA:
Net loss	$	(69,400)	$	(104,624)
Adjustments:
Interest income, net	(2,574)		(4,307)
Other (income) expense, net	19		(333)

Depreciation and amortization	4,011		4,478
Amortization of acquired intangible assets	1,776		3,638

Stock-based compensation expense	21,577		51,100
Transaction costs related to disposition of Lemonaid Health (2)	—		248


Cyber security incident expenses, net of probable insurance recoveries (3)	9,429		—
Total Adjusted EBITDA	$	(35,162)	$	(49,800)

(1)There was no Therapeutics revenue for the three months ended June 30, 2024 and 2023.

(2)Refer to Note 17, “Disposition of Subsidiary” for additional information.

(3)Refer to Note 11, “Cyber Security Incident” for additional information.

Schedule of Customers Accounting for 10% or More of Segment Revenues

Customers accounting for 10% or more of segment revenues were as follows:


	Three Months Ended June 30,

	2024				2023

	(in thousands)
Consumer and Research Services Segment Revenue:
Customer C (1)(2)	$	7,577	19	%	$	9,711	16	%
Customer B (3)	$	1	—	%	$	10,670	18	%

(1)Customer C is a reseller.

(2)Customer C revenues are primarily in the United States.

(3)Customer B revenues are in the U.K.

Equity Incentive Plans and Stock-Based Compensation - Schedule of Weighted Average Black-Scholes Assumptions (Details) - Outstanding stock options	3 Months Ended
	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected volatility range, minimum	78.00%
Expected volatility range, maximum	79.00%
Expected weighted-average volatility	79.00%
Risk-free interest rate, minimum	3.60%
Risk-free interest rate, maximum	3.90%
Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (years)	5 years 9 months 18 days
Expected dividend yield	0.00%
Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (years)	6 years
Expected dividend yield	0.00%

Balance Sheet Components

3 Months Ended

Jun. 30, 2024

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

Prepaid Expense and Other Current Assets

Prepaid expense and other current assets consisted of the following:


	June 30, 2024		March 31, 2024
	(in thousands)
Prepaid expenses	$	11,771	$	9,296
Insurance recovery receivable	24,128		2,188
Other receivables	2,538		3,563
Other current assets	2,155		1,794
Prepaid expenses and other current assets	$	40,592	$	16,841

Property and Equipment, Net

Property and equipment, net consisted of the following:


	June 30, 2024		March 31, 2024
	(in thousands)
Computer equipment and software	$	7,399	$	7,485
Laboratory equipment and software	51,419		51,635
Furniture and office equipment	8,929		8,929
Leasehold improvements	41,394		41,180
Capitalized asset retirement obligations	853		853
Property and equipment, gross	109,994		110,082
Less: accumulated depreciation and amortization	(83,374)		(81,731)
Property and equipment, net	$	26,620	$	28,351

Depreciation and amortization expense was $2.0 million and $3.0 million for the three months ended June 30, 2024 and 2023, respectively. There were no impairments to property and equipment for the three months ended June 30, 2024 and 2023.

Operating Lease Right-Of-Use Assets, Net

Operating lease right-of-use assets, net consisted of the following:


	June 30, 2024		March 31, 2024
	(in thousands)
Operating lease right-of-use assets	$	85,166	$	85,166
Less: accumulated amortization	(38,150)		(36,272)
Operating lease right-of-use assets, net	$	47,016	$	48,894

Internal-Use Software, Net

Internal-use software, net consisted of the following:


	June 30, 2024		March 31, 2024
	(in thousands)
Capitalized internal-use software	$	37,270	$	35,918
Less: accumulated amortization	(17,202)		(15,402)
Internal-use software, net	$	20,068	$	20,516

The Company capitalized $1.4 million and $3.5 million in internal-use software during the three months ended June 30, 2024 and 2023, respectively.

Amortization of internal-use software was $1.8 million and $1.2 million for the three months ended June 30, 2024 and 2023, respectively. There was no impairment of internal-use software for the three months ended June 30, 2024 and 2023.

Intangible Assets, Net

Intangible assets, net consisted of the following:


	June 30, 2024
	Weighted Average Remaining Useful Life (Years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(in thousands, except years)
Customer relationships	0.0	$	14,900	$	(14,900)	$	—
Partnerships	7.3	9,000		(2,400)		6,600
Trademark	2.3	11,000		(5,867)		5,133
Developed technology	4.3	24,100		(9,181)		14,919
Non-compete agreements	2.3	2,800		(1,493)		1,307
Patents	4.3	5,500		(2,184)		3,316
Total intangible assets		$	67,300	$	(36,025)	$	31,275


	March 31, 2024
	Weighted Average Remaining Useful Life (Years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(in thousands, except years)
Customer relationships	0.0	$	14,900	$	(14,900)	$	—
Partnerships	7.6	9,000		(2,175)		6,825
Trademark	2.6	11,000		(5,317)		5,683
Developed technology	4.6	24,100		(8,320)		15,780
Non-compete agreements	2.6	2,800		(1,353)		1,447
Patents	4.5	5,500		(1,980)		3,520
Total intangible assets		$	67,300	$	(34,045)	$	33,255

Amortization expense for intangible assets was $2.0 million and $3.8 million for the three months ended June 30, 2024 and 2023, respectively. There was no impairment to intangible assets during the three months ended June 30, 2024 and 2023.

Estimated future amortization expense of the identified intangible assets as of June 30, 2024 was as follows:


	Estimated Amortization
	(in thousands)
Fiscal years ending March 31,
Remainder of 2025 (Remaining nine months)	$	5,940
2026	7,919
2027	6,769
2028	5,006
2029	3,175
Thereafter	2,466
Total estimated future amortization expense	$	31,275

Accrued Expense and Other Current Liabilities

Accrued expense and other current liabilities consisted of the following:


	June 30, 2024		March 31, 2024
	(in thousands)
Accrued payables	$	7,953	$	9,697
Accrued settlement and legal expenses	34,655		3,260
Accrued compensation and benefits	3,952		4,266
Accrued vacation	7,185		7,221
Accrued bonus	4,459		7,420
Accrued clinical expenses	5,294		9,291
Accrued taxes and other	1,175		1,108
Total accrued expenses and other current liabilities	$	64,673	$	42,263

Balance Sheet Components - Additional Information (Details) - USD ($)	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 2,000,000.0	$ 3,000,000
Impairment to property and equipment	0	0
Amortization expense for intangible assets	2,000,000.0	3,800,000
Impairment of intangible assets	0
Internal Use Software
Property, Plant and Equipment [Line Items]
Capitalized of internal use software	1,400,000	3,500,000
Amortization of internal use software	1,800,000	1,200,000
Impairment of internal use software	$ 0	$ 0

Retirement Benefit Plans	3 Months Ended
Retirement Benefit Plans	Jun. 30, 2024
Retirement Benefits [Abstract]
Retirement Benefit Plans	Retirement Benefit Plans The Company has established a 401(k) retirement plan that allows participating employees in the U.S. to contribute as defined by the terms of the plan and subject to the limitations under Section 401(k) of the Code. The Company matches the greater of 100% of the first 2% or 100% of the first $2,300 (subject to annual compensation and contribution limits) of employee contributions. The Company recognized matching contributions cost of $0.5 million and $0.9 million for the three months ended June 30, 2024 and 2023, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (l)
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Section 50
-Paragraph 1
-Subparagraph (o)
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480266/715-60-50-3

+ Details

Revenue - Schedule of Revenue by Region Based on the Shipping Address of Customers (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Amount	$ 40,414	$ 60,864
Revenue \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
% of Revenue	100.00%	100.00%
United States
Disaggregation of Revenue [Line Items]
Amount	$ 35,285	$ 43,326
United States \| Revenue \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
% of Revenue	87.00%	71.00%
United Kingdom
Disaggregation of Revenue [Line Items]
Amount	$ 2,124	$ 14,355
United Kingdom \| Revenue \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
% of Revenue	5.00%	24.00%
Canada
Disaggregation of Revenue [Line Items]
Amount	$ 2,015	$ 2,170
Canada \| Revenue \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
% of Revenue	5.00%	3.00%
Other regions
Disaggregation of Revenue [Line Items]
Amount	$ 990	$ 1,013
Other regions \| Revenue \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
% of Revenue	3.00%	2.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

+ Details

Equity Incentive Plans and Stock-Based Compensation - Schedule of Share Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 21,577	$ 51,100
Secondary Sale Transaction \| Cost of revenue \| Service
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	976	2,058
Secondary Sale Transaction \| Cost of revenue \| Product
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	393	414
Secondary Sale Transaction \| Research and development
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	11,071	11,692
Secondary Sale Transaction \| Sales and marketing
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	2,459	1,718
Secondary Sale Transaction \| General and administrative
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	6,678	34,576
Secondary Sale Transaction \| General and administrative \| Former Lemonaid Officer
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense		22,000
Secondary Sale Transaction \| Restructuring and other charges
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 0	$ 642

Income Taxes	3 Months Ended
Income Taxes	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company computes the provision for income taxes by applying the estimated annual effective tax rate to year-to-date income from recurring operations and adjusts the provision for discrete tax items recorded in the period. The Company’s annual estimated effective tax rate differs from the U.S. federal statutory rate primarily as a result of a valuation allowance against its deferred tax assets. There was no income tax expense or benefit recognized for the three months ended June 30, 2024 and 2023. The provision tax expense or benefit from income taxes is reflected on the condensed consolidated statements of operations and comprehensive loss for the periods. The Company continues to maintain a full valuation allowance on the remaining net deferred tax assets of the U.S. entities as it is more likely than not that the Company will not realize the deferred tax assets. Utilization of net operating loss carryforwards may be subject to future annual limitations provided by Section 382 of the Code and similar state provisions. The Company files income tax returns in the U.S. federal jurisdiction and various states. As of the date of this filing, the Company is not currently under examination by income tax authorities in federal, state, or other jurisdictions. All tax returns will remain open for examination by the federal and state authorities for three and four years, respectively, from the date of utilization of any net operating loss or credits.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Balance Sheet Components - Operating Lease Right-of-Use Assets, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Regulated Operations [Abstract]
Operating lease right-of-use assets	$ 85,166	$ 85,166
Less: accumulated amortization	(38,150)	(36,272)
Operating lease right-of-use assets	$ 47,016	$ 48,894

Equity Incentive Plans and Stock-Based Compensation (Tables)

3 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity and Activity Regarding Shares Available for Grant

Stock option activity and activity regarding shares available for grant under the A&R Plan are as follows:


	Options Outstanding
	Outstanding Stock Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value

	(in thousands, except share, years, and per share data)
Balance as of March 31, 2024	70,739,770	$	3.68	5.1	$	306
Granted	—	—
Exercised	(137,776)	$	0.42
Canceled/forfeited/expired	(5,769,795)	$	4.71
Balance as of June 30, 2024	64,832,199	$	3.60	5.1	$	61
Vested and exercisable as of June 30, 2024	50,032,139	$	3.99	4.1	$	61

Schedule of Weighted Average Black-scholes Assumptions

The weighted average Black-Scholes assumptions used to value stock options at the grant dates are as follows:


		Three Months Ended June 30,
	2023
		Min		Max
Expected term (years)		5.8		6.0
Expected volatility range		78	%	79	%
Expected weighted-average volatility	79%
Risk-free interest rate		3.6	%	3.9	%
Expected dividend yield		—		—

Schedule of Restricted Stock Awards Activity under the Equity Incentive Plan

The following table summarizes the RSU activity under the equity incentive plans and related information:


	Unvested RSUs	Weighted-Average Grant Date Fair Value Per Share
Balance as of March 31, 2024	44,056,670	$	2.29
Granted	42,032,239	$	0.52
Vested	(15,841,185)	$	1.13
Canceled/forfeited	(1,968,731)	$	1.82
Balance as of June 30, 2024	68,278,993	$	1.49

Schedule of Share Based Compensation Expense

Total stock-based compensation expense, including stock-based compensation expense related to awards classified as liabilities, was included in costs and expenses as follows:


	Three Months Ended June 30,
	2024		2023
	(in thousands)
Cost of service revenue	$	976	$	2,058
Cost of product revenue	393		414
Research and development	11,071		11,692
Sales and marketing	2,459		1,718
General and administrative (1)	6,678		34,576
Restructuring and other charges	—		642
Total stock-based compensation expense	$	21,577	$	51,100

(1)Includes $22.0 million of stock-based compensation charges related to the termination of a Former Lemonaid Officer during the three months ended June 30, 2023.

Segment Information

3 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Segment Information

The Company currently operates in two reporting segments: (1) Consumer and Research Services, and (2) Therapeutics. The Consumer and Research Services segment consists of revenue and expenses from PGS and telehealth, as well as research services revenue and expenses from certain collaboration agreements (including the original GSK Agreement). The Therapeutics segment consists of revenues from the out-licensing of intellectual property associated with identified drug targets and expenses related to therapeutic product candidates under clinical development. Substantially all of the Company’s revenues are derived from the Consumer and Research Services segment. See Note 3, “Revenue — Revenue Recognition,” for additional information. There are no inter-segment sales.

Certain department expenses such as Finance, Legal, Regulatory and Supplier Quality, Corporate Communications, Corporate Development, and CEO Office are not reported as part of the reporting segments as reviewed by the CODM (as defined below). These amounts are included in Unallocated Corporate in the reconciliations below. The chief operating decision-maker (“CODM”) is the Chief Executive Officer (“CEO”). The CODM evaluates the performance of each segment based on Adjusted EBITDA. Adjusted EBITDA is a non-GAAP financial measure that is defined as net income (loss) before net interest income (expense), net other income (expense), income tax expenses (benefit), depreciation and amortization, impairment charges, stock-based compensation expense, and other items that are considered unusual or not representative of underlying trends of the Company’s business, including but not limited to: litigation settlements, gains or losses on dispositions of subsidiaries, transaction-related costs, and cyber security incident expenses, net of probable insurance recoveries, if applicable for the periods presented.

Adjusted EBITDA is a key measure used by the Company’s management and Board of Directors to understand and evaluate the Company’s operating performance and trends, to prepare and approve the annual budget, and to develop short-term and long-term operating plans.

The Company’s revenue and Adjusted EBITDA by segment is as follows:


	Three Months Ended June 30,
	2024		2023
	(in thousands)
Segment Revenue: (1)
Consumer and Research Services	$	40,414	$	60,864
Total revenue	$	40,414	$	60,864
Segment Adjusted EBITDA:
Consumer and Research Services Adjusted EBITDA	$	(8,841)	$	(5,602)
Therapeutics Adjusted EBITDA	(12,417)		(31,138)
Unallocated Corporate	(13,904)		(13,060)
Total Adjusted EBITDA	$	(35,162)	$	(49,800)
Reconciliation of net loss to Adjusted EBITDA:
Net loss	$	(69,400)	$	(104,624)
Adjustments:
Interest income, net	(2,574)		(4,307)
Other (income) expense, net	19		(333)

Depreciation and amortization	4,011		4,478
Amortization of acquired intangible assets	1,776		3,638

Stock-based compensation expense	21,577		51,100
Transaction costs related to disposition of Lemonaid Health (2)	—		248


Cyber security incident expenses, net of probable insurance recoveries (3)	9,429		—
Total Adjusted EBITDA	$	(35,162)	$	(49,800)

(1)There was no Therapeutics revenue for the three months ended June 30, 2024 and 2023.

(2)Refer to Note 17, “Disposition of Subsidiary” for additional information.

(3)Refer to Note 11, “Cyber Security Incident” for additional information.

Customers accounting for 10% or more of segment revenues were as follows:


	Three Months Ended June 30,

	2024				2023

	(in thousands)
Consumer and Research Services Segment Revenue:
Customer C (1)(2)	$	7,577	19	%	$	9,711	16	%
Customer B (3)	$	1	—	%	$	10,670	18	%

(1)Customer C is a reseller.

(2)Customer C revenues are primarily in the United States.

(3)Customer B revenues are in the U.K.

Revenue from customers by service and by geographical region can be found in the revenue recognition disclosures in Note 3, “Revenue.” Substantially all of the Company’s property and equipment, net of depreciation and amortization, was located in the United States during the periods presented. The reporting segments do not present total assets as they are not reviewed by the CODM when evaluating their performance.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
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+ Details

Leases (Tables)

3 Months Ended

Jun. 30, 2024

Leases [Abstract]

Schedule of Future Minimum Lease Payments Related to Company's Operating Lease Liability

As of June 30, 2024, the future minimum lease payments included in the measurement of the Company’s operating lease liabilities were as follows:


	June 30, 2024
	(in thousands)
Fiscal years ending March 31,
Remainder of 2025 (Remaining nine months)	$	10,416
2026	15,946
2027	15,472
2028	11,666
2029	12,016
Thereafter	29,413
Total future operating lease payments	94,929
Less: imputed interest	(20,766)
Total operating lease liabilities	$	74,163

Equity Incentive Plans and Stock-Based Compensation - Schedule of Restricted Stock Awards Activity under the Equity Incentive Plan (Details) - Restricted Stock Units	3 Months Ended
	Jun. 30, 2024 $ / shares shares
Unvested RSUs
Unvested RSUs, beginning balance (in shares) \| shares	44,056,670
Granted (in shares) \| shares	42,032,239
Vested (in shares) \| shares	(15,841,185)
Cancelled/forfeited (in shares) \| shares	(1,968,731)
Unvested RSUs, ending balance (in shares) \| shares	68,278,993
Weighted-Average Grant Date Fair Value Per Share
Beginning balance (in usd per share) \| $ / shares	$ 2.29
Granted (in usd per share) \| $ / shares	0.52
Vested (in usd per share) \| $ / shares	1.13
Cancelled/forfeited (in usd per share) \| $ / shares	1.82
Ending balance (in usd per share) \| $ / shares	$ 1.49

Restructuring (Tables)

3 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

The following table shows the total amount incurred and accrued related to one-time employee termination benefits:


	One-Time Employee Termination Benefits
	(in thousands)
Accrued restructuring costs included in accrued expenses and other current liabilities as of March 31, 2024	$	22
Restructuring charges incurred during the period	—
Amounts paid during the period	(22)
Accrued restructuring costs included in accrued expenses and other current liabilities as of June 30, 2024	$	—

Segment Information - Additional Information (Details)	3 Months Ended
Segment Information - Additional Information (Details)	Jun. 30, 2024 reportable_segment
Segment Reporting [Abstract]
Number of reporting segments	2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Accounts payable, related party	$ 11,192	$ 11,571
Accrued expenses and other current liabilities, related party	64,673	42,263
Deferred revenue, current, related party	68,015	64,827
Deferred revenue, noncurrent related party	$ 5,000	$ 10,000
Preferred stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Class A Common Stock
Common stock, shares authorized (in shares)	1,140,000,000	1,140,000,000
Common stock, shares issued (in shares)	339,502,600	323,394,807
Common stock, shares outstanding (in shares)	339,502,600	323,394,807
Class B Common Stock
Common stock, shares authorized (in shares)	350,000,000	350,000,000
Common stock, shares issued (in shares)	166,507,453	166,724,586
Common stock, shares outstanding (in shares)	166,507,453	166,724,586
Related Party
Accounts payable, related party	$ 4,871	$ 3,809
Accrued expenses and other current liabilities, related party	2,452	6,752
Deferred revenue, current, related party	15,818	10,999
Deferred revenue, noncurrent related party	$ 5,000	$ 10,000

Condensed Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Annual Incentive Plan	Common Stock	Common Stock A&R Plan	Common Stock Annual Incentive Plan	Additional Paid-In Capital	Additional Paid-In Capital Annual Incentive Plan	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance, shares (in shares) at Mar. 31, 2023			461,199,962
Beginning balance at Mar. 31, 2023	$ 713,939		$ 46			$ 2,220,897		$ (620)	$ (1,506,384)
Issuance of common stock upon exercise of stock options (in shares)			180,718
Issuance of common stock upon exercise of stock options	85					85
Issuance of common stock upon release of restricted stock units under the 23andMe Second Amended and Restated Annual Incentive Plan (in shares)				1,812,802	8,961,053
Issuance of common stock upon release of restricted stock units under the 23andMe Second Amended and Restated Annual Incentive Plan		$ 18,630			$ 1		$ 18,629
Net share settlements for stock-based minimum tax withholdings (in shares)			(58,985)
Net share settlements for stock-based minimum tax withholdings	(121)					(121)
Stock-based compensation expense	47,915					47,915
Other comprehensive loss	(334)							(334)
Net loss	(104,624)								(104,624)
Ending balance, shares (in shares) at Jun. 30, 2023			472,095,550
Ending balance at Jun. 30, 2023	675,490		$ 47			2,287,405		$ (954)	(1,611,008)
Beginning balance, shares (in shares) at Mar. 31, 2024			490,119,393
Beginning balance at Mar. 31, 2024	$ 188,520		$ 49			2,361,559			(2,173,088)
Issuance of common stock upon exercise of stock options (in shares)	137,776		137,776
Issuance of common stock upon exercise of stock options	$ 58					58
Issuance of common stock upon release of restricted stock units under the 23andMe Second Amended and Restated Annual Incentive Plan (in shares)				3,696,750	12,144,435
Issuance of common stock upon release of restricted stock units under the 23andMe Second Amended and Restated Annual Incentive Plan		$ 6,451			$ 2		$ 6,449
Net share settlements for stock-based minimum tax withholdings (in shares)			(88,301)
Net share settlements for stock-based minimum tax withholdings	(48)					(48)
Stock-based compensation expense	17,923					17,923
Other comprehensive loss	0
Net loss	(69,400)								(69,400)
Ending balance, shares (in shares) at Jun. 30, 2024			506,010,053
Ending balance at Jun. 30, 2024	$ 143,504		$ 51			$ 2,385,941			$ (2,242,488)

Revenue

3 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue

Disaggregation of Revenue

The following table presents revenue by category:


	Three Months Ended June 30,
	2024				2023
	Amount		% of Revenue		Amount		% of Revenue

	(in thousands, except percentages)
Point in Time (1)
PGS	$	24,397	60	%	$	31,759	52	%
Telehealth	5,039		13	%	8,285		14	%
Consumer services	29,436		73	%	40,044		66	%
Research services	344		1	%	2,353		3	%
Total	$	29,780	74	%	$	42,397	69	%

Over Time (1)
PGS	$	8,109	20	%	$	5,270	9	%
Telehealth	1,608		4	%	2,238		4	%
Consumer services	9,717		24	%	7,508		13	%
Research services	917		2	%	10,959		18	%
Total	$	10,634	26	%	$	18,467	31	%

Revenue by Category (1)
PGS	$	32,506	80	%	$	37,029	61	%
Telehealth	6,647		17	%	10,523		18	%
Consumer services	39,153		97	%	47,552		79	%
Research services	1,261		3	%	13,312		21	%
Total	$	40,414	100	%	$	60,864	100	%

(1)There was no Therapeutics revenue for the three months ended June 30, 2024 and 2023.

The following table summarizes revenue by region based on the shipping address of customers:


	Three Months Ended June 30,
	2024				2023
	Amount		% of Revenue		Amount		% of Revenue

	(in thousands, except percentages)
United States	$	35,285	87	%	$	43,326	71	%
United Kingdom	2,124		5	%	14,355		24	%
Canada	2,015		5	%	2,170		3	%
Other regions	990		3	%	1,013		2	%
Total	$	40,414	100	%	$	60,864	100	%

Breakage Revenue

The Company sells through multiple channels, including direct-to-consumer via the Company’s website and through online retailers. If the customer does not return the kit for processing, services cannot be completed by the Company, potentially resulting in unexercised rights (“breakage”) revenue. The Company recognized breakage revenue from unreturned kits of $4.0 million and $4.6 million for the three months ended June 30, 2024 and 2023, respectively.

Contract Balances

Accounts receivable are recorded when the right to consideration becomes unconditional. Contract assets include amounts associated with contractual rights related to consideration for performance obligations and are included in prepaid expenses and other current assets on the condensed consolidated balance sheets. The amount of contract assets was immaterial as of June 30, 2024 and March 31, 2024.

Contract liabilities consist of deferred revenue. As of June 30, 2024 and March 31, 2024, deferred revenue for consumer services was $51.3 million and $52.3 million, respectively. Of the $52.3 million of deferred revenue for consumer services as of March 31, 2024, the Company recognized $21.6 million as revenue during the three months ended June 30, 2024.

As of June 30, 2024 and March 31, 2024, deferred revenue for research services was $21.7 million and $22.5 million, respectively. As of June 30, 2024 and March 31, 2024, deferred revenue for research services included $20.8 million and $21.0 million, respectively, of related party deferred revenue. Of the $22.5 million of deferred revenue for research services as of March 31, 2024, the Company recognized $1.0 million as revenue during the three months ended June 30, 2024, which included related party revenue of $0.2 million for the three months ended June 30, 2024.

Remaining Performance Obligations

The transaction price allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and amounts that are expected to be billed and recognized as revenue in future periods. The Company has utilized the practical expedient available under Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”) to not disclose the value of unsatisfied performance obligations for PGS and telehealth as those contracts have an expected length of one year or less. As of June 30, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations for research services was $26.4 million. The Company expects to recognize revenue of approximately 69% of this amount over the next 12 months and the remainder thereafter. During the three months ended June 30, 2024 and 2023, revenue recognized for performance obligations satisfied in prior periods were immaterial.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/606/tableOfContent

+ Details

Disposition of Subsidiary	3 Months Ended
Disposition of Subsidiary	Jun. 30, 2024
Disposition of Subsidiary [Abstract]
Disposition of Subsidiary	Disposition of Subsidiary Disposition of Lemonaid Health Limited On August 1, 2023, the Company completed the sale of Lemonaid Health Limited, its wholly-owned, indirect U.K. subsidiary. Lemonaid Health Limited was not a significant subsidiary, and the disposition of Lemonaid Health Limited did not constitute a strategic shift that would have a major effect on the Company’s operations or financial results. As a result, the results of operations for Lemonaid Health Limited were not reported as discontinued operations under the guidance of ASC 205 “Presentation of Financial Statements.” During the three months ended June 30, 2023, the Company recorded $0.2 million of transaction-related costs within general and administrative expenses. There were no charges incurred during the three months ended June 30, 2024.

Fair Value Measurements (Tables)

3 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments Measured at Fair Value on Recurring Basis

The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis as of June 30, 2024 and March 31, 2024:


	June 30, 2024								March 31, 2024
	Fair Value		Level 1		Level 2		Level 3		Fair Value		Level 1		Level 2		Level 3

	(in thousands)
Financial Assets:
Money market funds	$	163,000	$	163,000	$	—	$	—	$	211,000	$	211,000	$	—	$	—
Total financial assets	$	163,000	$	163,000	$	—	$	—	$	211,000	$	211,000	$	—	$	—

Summary of Significant Accounting Policies - Schedule of Significant Customer Information (Details) - Customer Concentration Risk	3 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024
Customer C \| Accounts Receivable
Concentration Risk [Line Items]
% of Revenue	55.00%		59.00%
Customer C \| Revenue
Concentration Risk [Line Items]
% of Revenue	19.00%	16.00%
Customer H \| Accounts Receivable
Concentration Risk [Line Items]
% of Revenue	23.00%		0.00%
Customer I \| Accounts Receivable
Concentration Risk [Line Items]
% of Revenue	0.00%		30.00%
Customer B \| Revenue
Concentration Risk [Line Items]
% of Revenue	0.00%	18.00%

Fair Value Measurements

3 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

Recurring Fair Value Measurements

The fair value of cash, restricted cash, accounts receivable, accounts payable, and accrued liabilities are stated at their carrying value, which approximates fair value due to the short time to the expected receipt or payment date as of June 30, 2024 and March 31, 2024.

The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis as of June 30, 2024 and March 31, 2024:


	June 30, 2024								March 31, 2024
	Fair Value		Level 1		Level 2		Level 3		Fair Value		Level 1		Level 2		Level 3

	(in thousands)
Financial Assets:
Money market funds	$	163,000	$	163,000	$	—	$	—	$	211,000	$	211,000	$	—	$	—
Total financial assets	$	163,000	$	163,000	$	—	$	—	$	211,000	$	211,000	$	—	$	—

Cash equivalents consist primarily of money market funds and are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets.

The Company had no transfers between levels of the fair value hierarchy of its assets and liabilities measured at fair value during the three months ended June 30, 2024 and the fiscal year ended March 31, 2024.

Nonrecurring Fair Value Measurements

Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date. Certain of the Company’s assets, including intangible assets, are measured at fair value on a nonrecurring

basis and are classified in Level 3 of the fair value hierarchy. No nonrecurring fair value measurements were required during the three months ended June 30, 2024 and 2023.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

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-Topic 820
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-Paragraph 100
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 6A
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 940
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-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Balance Sheet Components - Schedule of Internal Use Software (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Capitalized internal-use software	$ 37,270	$ 35,918
Less: accumulated amortization	(17,202)	(15,402)
Internal-use software, net	$ 20,068	$ 20,516

Equity Incentive Plans and Stock-Based Compensation

3 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Equity Incentive Plans and Stock-Based Compensation

Incentive Equity Plans

On September 6, 2023 (the “Effective Date”), the Company’s stockholders approved an amendment and restatement of the 23andMe Holding Co. 2021 Incentive Equity Plan (the “2021 Plan” and, as amended and restated, the “A&R Plan”). The terms of the A&R Plan replaced the existing terms of the 2021 Plan. The A&R Plan was adopted to, among other things, (i) increase the number of shares authorized for issuance by 75,000,000 shares of Class A common stock of the Company, (ii) increase the percentage of shares that may automatically be added on an annual basis to the number of authorized shares from 3% to 5% (the “evergreen provision”), (iii) increase the individual annual compensation limit for non-employee directors from $300,000 to $400,000 and to provide that the limit applies on a fiscal-year basis, (iv) revise what constitutes a change of control of the Company, (v) add additional performance measures, and (vi) implement certain other modifications and clarifications as set forth in the A&R Plan. The maximum aggregate number of shares of Class A common stock that may be issued under the A&R Plan with respect to awards granted on or after the Effective Date is the sum of (i) 75,000,000 shares of Class A common stock, (ii) any shares of Class A common stock that remained available for awards under the 2021 Plan as of the Effective Date, and (iii) any shares of Class A common stock subject to outstanding awards under the 2021 Plan as of the Effective Date that are payable in shares and that expire, are forfeited, or are otherwise terminated without having been exercised, vested, or settled in full, or are paid in cash, as applicable, on or after the Effective Date, subject to adjustment as described in the A&R Plan, in addition to any shares of Class A common stock added to the registered shares reserved for issuance under the A&R Plan pursuant to the evergreen provision.

Under the A&R Plan, options (including non-statutory options and Incentive Stock Options (“ISO”)), stock appreciation rights, restricted stock, RSUs, and other stock-based awards may be granted to employees, non-employee directors and certain consultants and advisors of the Company and its subsidiaries. Options have a contractual life of up to ten years. The exercise price of a stock option shall not be less than 100% of the estimated fair value of the shares on the date of grant, as determined by the Board of Directors. For ISO as defined in the Internal Revenue Code of 1986, as amended (the “Code”), the exercise price of an ISO granted to a 10% stockholder shall not be less than 110% of the estimated fair value of the underlying stock on the date of grant as determined by the Board of Directors. The Company’s options generally vest over three to four years. Under the A&R Plan, stock option awards entitle the holder to receive one share of Class A common stock for every option exercised.

Time-based RSUs granted pursuant to the A&R Plan generally vest ratably over a period ranging from one to four years and are subject to the participant’s continuing service to the Company over that period. RSUs issued pursuant to the 23andMe Second Amended and Restated Annual Incentive Plan (the “AIP”) upon the achievement of certain pre-determined annual performance metrics, as discussed below, vest immediately upon issuance. Until vested, RSUs do not have the voting and dividend participation rights of Class A common stock and the shares of Class A common stock underlying the awards are not considered issued and outstanding.

The Company issues new shares of Class A common stock upon the exercise of stock options, the vesting and settlement of RSUs, and the issuance of shares purchased under the ESPP.

In February 2022, the Compensation Committee of the Company’s Board of Directors adopted a RSU conversion and deferral program for non-employee directors. The purpose of the program is to provide non-employee directors with the option to convert all or a portion of their cash compensation into a RSU award under the A&R Plan and the opportunity to defer settlement of all or a portion of their RSU awards. As of June 30, 2024, four non-employee directors have elected to convert all of their cash compensation into RSU awards, and two non-employee directors have elected to defer settlement of their RSU awards under the program.

On June 9, 2022, the Compensation Committee of the Company’s Board of Directors adopted the AIP, pursuant to which, beginning in fiscal 2023, employees and certain service providers of 23andMe, Inc. and its affiliates were eligible to receive annual incentive bonuses in the form of cash or RSUs issued by the Company under the A&R Plan, based upon the Company’s achievement of certain pre-established financial, operational, and/or strategic performance metrics. On June 3, 2024, the Company paid annual incentive bonuses in the form of RSUs based upon the Company’s achievement of certain pre-established performance metrics during the one-year performance period ended March 31, 2024 and as determined by the Compensation Committee of the Company’s Board of Directors. The number of RSUs granted was determined by dividing the dollar amount of the AIP annual incentive bonuses by the trailing average closing price of the Company’s Class A common stock for the 20 trading days preceding the date of payment resulting in the grant of 12,144,435 shares underlying fully-vested RSUs during the three months ended June 30, 2024.

The Company accounts for the RSUs issued under the AIP (the “AIP RSUs”) as liability awards, and adjusts the liability and corresponding expenses at the end of each quarter until the date of settlement, considering the probability that the performance conditions will be satisfied. The Company recorded stock-based compensation expense of $4.1 million and $4.4 million related to the AIP RSUs for the three months ended June 30, 2024 and 2023, respectively. As of June 30, 2024 and March 31, 2024, the liability of the AIP RSUs was $4.1 million and $6.5 million, respectively, which was included in other current liabilities on the condensed consolidated balance sheet.

Stock Option Activity

Stock option activity and activity regarding shares available for grant under the A&R Plan are as follows:


	Options Outstanding
	Outstanding Stock Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value

	(in thousands, except share, years, and per share data)
Balance as of March 31, 2024	70,739,770	$	3.68	5.1	$	306
Granted	—	—
Exercised	(137,776)	$	0.42
Canceled/forfeited/expired	(5,769,795)	$	4.71
Balance as of June 30, 2024	64,832,199	$	3.60	5.1	$	61
Vested and exercisable as of June 30, 2024	50,032,139	$	3.99	4.1	$	61

The weighted average grant date fair value per share of options granted was nil and $1.43 for the three months ended June 30, 2024 and 2023, respectively. The total intrinsic value of vested options exercised for the three months ended June 30, 2024 and 2023 was immaterial and $0.2 million, respectively. As of June 30, 2024, unrecognized stock-based compensation expense related to unvested stock options was $22.2 million, which is expected to be recognized over a weighted-average period of 2.1 years. Due to a valuation allowance on deferred tax assets, the Company did not recognize any tax expense or benefit from stock option exercises for the three months ended June 30, 2024 and 2023.

The Company estimated the fair value of options granted using the Black-Scholes option-pricing model. The fair value of stock options is being amortized on a straight-line basis over the requisite service period of the awards.

The weighted average Black-Scholes assumptions used to value stock options at the grant dates are as follows:


		Three Months Ended June 30,
	2023
		Min		Max
Expected term (years)		5.8		6.0
Expected volatility range		78	%	79	%
Expected weighted-average volatility	79%
Risk-free interest rate		3.6	%	3.9	%
Expected dividend yield		—		—

There were no stock options granted during the three months ended June 30, 2024.

Restricted Stock Units

The following table summarizes the RSU activity under the equity incentive plans and related information:


	Unvested RSUs	Weighted-Average Grant Date Fair Value Per Share
Balance as of March 31, 2024	44,056,670	$	2.29
Granted	42,032,239	$	0.52
Vested	(15,841,185)	$	1.13
Canceled/forfeited	(1,968,731)	$	1.82
Balance as of June 30, 2024	68,278,993	$	1.49

As of June 30, 2024, unrecognized stock-based compensation expense related to outstanding unvested RSUs was $90.1 million, which is expected to be recognized over a weighted-average period of 2.1 years.

Stock Subject to Vesting

In November 2021, in connection with the acquisition of Lemonaid Health ( the “Lemonaid Acquisition”), the Company granted 3,747,027 shares of Class A common stock with an aggregate grant date fair value of $43.9 million to two recipients, each of whom was a former stockholder and officer of Lemonaid Health (each, a “Former Lemonaid Officer”) and each of whom, following the closing of the Lemonaid Acquisition, joined the Company’s management team. The shares were scheduled to vest over a four-year period in quarterly installments beginning on February 1, 2022, subject to the respective recipient’s continued employment with the Company. In connection with the Lemonaid Acquisition, each of these recipients entered into a relinquishment agreement that provides that during the four-year period that commenced on November 1, 2021 (the “Protection Period”), the Company will not (i) terminate the recipient’s employment without cause, (ii) materially reduce the recipient’s base salary or the benefits to which similarly-situated executive employees of the Company or the Company’s subsidiaries are entitled, other than a broad-based reduction to the same extent that applies to such similarly-situated executive employees, or (iii) relocate the recipient’s principal place of employment to a location outside of a 50-mile radius of their current principal place of employment. If any such event occurs during the Protection Period or in the event of the recipient’s death or disability, then the unvested portion(s) of these awards will immediately vest.

During the three months ended June 30, 2023, the employment of one of the Former Lemonaid Officers terminated, which resulted in $22.0 million of stock-based compensation expense related to these awards recognized within general and administrative expenses within the condensed consolidated statement of operations.

The Company recognized total stock-based compensation expense related to these awards of $24.7 million for the three months ended June 30, 2023, within general and administrative expenses. There was no stock-based compensation expense related to these awards recognized during the three months ended June 30, 2024. As of June 30, 2024, there was no remaining unamortized stock-based compensation expense associated with these awards.

Employee Stock Purchase Plan

On June 10, 2021, the shareholders of VGAC approved the 23andMe Holding Co. Employee Stock Purchase Plan (“ESPP”). A total of 11,420,000 shares of the Company’s Class A common stock were initially reserved for issuance under the ESPP. Pursuant to the terms of the ESPP, the number of shares of the Company’s Class A common stock reserved for issuance will automatically increase on January 1 of each calendar year, beginning on January 1, 2023, by the lesser of (i) an amount equal to one percent (1.0%) of the total number of shares of Class A and Class B common stock outstanding as of the last day of the immediately preceding December 31st, (ii) 5,000,000 shares, or (iii) a lesser number of shares as determined by the Board of Directors in its discretion. During the three months ended June 30, 2024 and 2023, no shares of Class A common stock were purchased under the Company’s ESPP.

The ESPP provides for concurrent 12-month offerings with successive six-month purchase intervals commencing on March 1 and September 1 of each year and purchase dates occurring on the last day of each such purchase interval (i.e., August 31 and February 28). The ESPP contains a rollover provision whereby if the price of the Company’s Class A common stock on the first day of a new offering period is less than the price on the first day of any preceding offering period, all participants in a preceding offering period with a higher first day price will be automatically withdrawn from such preceding offering period and re-enrolled in the new offering period. The rollover feature, when triggered, will be accounted for as a modification to the preceding offering period, resulting in incremental expense to be recognized over the new offering period.

Stock-Based Compensation

Total stock-based compensation expense, including stock-based compensation expense related to awards classified as liabilities, was included in costs and expenses as follows:


	Three Months Ended June 30,
	2024		2023
	(in thousands)
Cost of service revenue	$	976	$	2,058
Cost of product revenue	393		414
Research and development	11,071		11,692
Sales and marketing	2,459		1,718
General and administrative (1)	6,678		34,576
Restructuring and other charges	—		642
Total stock-based compensation expense	$	21,577	$	51,100

(1)Includes $22.0 million of stock-based compensation charges related to the termination of a Former Lemonaid Officer during the three months ended June 30, 2023.

Fair Value Measurements - Schedule of Fair Value of Financial Instruments Measured on Recurring Basis (Details) - Fair Value Recurring - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	$ 163,000	$ 211,000
Level 1
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	163,000	211,000
Level 2
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	0	0
Level 3
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	0	0
Money market funds
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	163,000	211,000
Money market funds \| Level 1
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	163,000	211,000
Money market funds \| Level 2
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	0	0
Money market funds \| Level 3
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	$ 0	$ 0

Net Loss Per Share Attributable to Common Stockholders - Common Stock Equivalents Excluded from Calculation of Diluted Net Loss Per Share (Details) - Class A Common Stock - shares	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share Basic [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share (in shares)	135,491,235	114,127,969
ESPP
Earnings Per Share Basic [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share (in shares)	2,380,043	2,776,927
Outstanding stock options
Earnings Per Share Basic [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share (in shares)	64,832,199	68,386,690
Unvested restricted stock units
Earnings Per Share Basic [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share (in shares)	68,278,993	42,629,558
Shares subject to vesting
Earnings Per Share Basic [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share (in shares)	0	334,794

Revenue (Tables)

3 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Revenue by Category

The following table presents revenue by category:


	Three Months Ended June 30,
	2024				2023
	Amount		% of Revenue		Amount		% of Revenue

	(in thousands, except percentages)
Point in Time (1)
PGS	$	24,397	60	%	$	31,759	52	%
Telehealth	5,039		13	%	8,285		14	%
Consumer services	29,436		73	%	40,044		66	%
Research services	344		1	%	2,353		3	%
Total	$	29,780	74	%	$	42,397	69	%

Over Time (1)
PGS	$	8,109	20	%	$	5,270	9	%
Telehealth	1,608		4	%	2,238		4	%
Consumer services	9,717		24	%	7,508		13	%
Research services	917		2	%	10,959		18	%
Total	$	10,634	26	%	$	18,467	31	%

Revenue by Category (1)
PGS	$	32,506	80	%	$	37,029	61	%
Telehealth	6,647		17	%	10,523		18	%
Consumer services	39,153		97	%	47,552		79	%
Research services	1,261		3	%	13,312		21	%
Total	$	40,414	100	%	$	60,864	100	%

(1)There was no Therapeutics revenue for the three months ended June 30, 2024 and 2023.

Schedule of Revenue by Region Based on the Shipping Address of Customers

The following table summarizes revenue by region based on the shipping address of customers:


	Three Months Ended June 30,
	2024				2023
	Amount		% of Revenue		Amount		% of Revenue

	(in thousands, except percentages)
United States	$	35,285	87	%	$	43,326	71	%
United Kingdom	2,124		5	%	14,355		24	%
Canada	2,015		5	%	2,170		3	%
Other regions	990		3	%	1,013		2	%
Total	$	40,414	100	%	$	60,864	100	%

Revenue - Schedule of Revenue by Category (Details) - USD ($)	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Amount	$ 40,414,000	$ 60,864,000
PGS
Disaggregation of Revenue [Line Items]
Amount	32,506,000	37,029,000
PGS \| Point in Time
Disaggregation of Revenue [Line Items]
Amount	24,397,000	31,759,000
PGS \| Over Time
Disaggregation of Revenue [Line Items]
Amount	8,109,000	5,270,000
Telehealth
Disaggregation of Revenue [Line Items]
Amount	6,647,000	10,523,000
Telehealth \| Point in Time
Disaggregation of Revenue [Line Items]
Amount	5,039,000	8,285,000
Telehealth \| Over Time
Disaggregation of Revenue [Line Items]
Amount	1,608,000	2,238,000
Consumer services
Disaggregation of Revenue [Line Items]
Amount	39,153,000	47,552,000
Consumer services \| Point in Time
Disaggregation of Revenue [Line Items]
Amount	29,436,000	40,044,000
Consumer services \| Over Time
Disaggregation of Revenue [Line Items]
Amount	9,717,000	7,508,000
Research services
Disaggregation of Revenue [Line Items]
Amount	1,261,000	13,312,000
Research services \| Point in Time
Disaggregation of Revenue [Line Items]
Amount	344,000	2,353,000
Research services \| Over Time
Disaggregation of Revenue [Line Items]
Amount	917,000	10,959,000
Service
Disaggregation of Revenue [Line Items]
Amount	34,679,000	53,260,000
Service \| Point in Time
Disaggregation of Revenue [Line Items]
Amount	29,780,000	42,397,000
Service \| Over Time
Disaggregation of Revenue [Line Items]
Amount	10,634,000	18,467,000
Therapeutics
Disaggregation of Revenue [Line Items]
Amount	$ 0	$ 0
Product Concentration Risk \| Revenue
Disaggregation of Revenue [Line Items]
% of Revenue	100.00%	100.00%
Product Concentration Risk \| Revenue \| PGS
Disaggregation of Revenue [Line Items]
% of Revenue	80.00%	61.00%
Product Concentration Risk \| Revenue \| PGS \| Point in Time
Disaggregation of Revenue [Line Items]
% of Revenue	60.00%	52.00%
Product Concentration Risk \| Revenue \| PGS \| Over Time
Disaggregation of Revenue [Line Items]
% of Revenue	20.00%	9.00%
Product Concentration Risk \| Revenue \| Telehealth
Disaggregation of Revenue [Line Items]
% of Revenue	17.00%	18.00%
Product Concentration Risk \| Revenue \| Telehealth \| Point in Time
Disaggregation of Revenue [Line Items]
% of Revenue	13.00%	14.00%
Product Concentration Risk \| Revenue \| Telehealth \| Over Time
Disaggregation of Revenue [Line Items]
% of Revenue	4.00%	4.00%
Product Concentration Risk \| Revenue \| Consumer services
Disaggregation of Revenue [Line Items]
% of Revenue	97.00%	79.00%
Product Concentration Risk \| Revenue \| Consumer services \| Point in Time
Disaggregation of Revenue [Line Items]
% of Revenue	73.00%	66.00%
Product Concentration Risk \| Revenue \| Consumer services \| Over Time
Disaggregation of Revenue [Line Items]
% of Revenue	24.00%	13.00%
Product Concentration Risk \| Revenue \| Research services
Disaggregation of Revenue [Line Items]
% of Revenue	3.00%	21.00%
Product Concentration Risk \| Revenue \| Research services \| Point in Time
Disaggregation of Revenue [Line Items]
% of Revenue	1.00%	3.00%
Product Concentration Risk \| Revenue \| Research services \| Over Time
Disaggregation of Revenue [Line Items]
% of Revenue	2.00%	18.00%
Product Concentration Risk \| Revenue \| Service \| Point in Time
Disaggregation of Revenue [Line Items]
% of Revenue	74.00%	69.00%
Product Concentration Risk \| Revenue \| Service \| Over Time
Disaggregation of Revenue [Line Items]
% of Revenue	26.00%	31.00%

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation and Principle of Consolidation	Basis of Presentation and Principle of Consolidation The Company’s unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company and its wholly owned subsidiaries, and variable interest entities in which it holds a controlling financial interest. All intercompany accounts and transactions have been eliminated in consolidation. For the three months ended June 30, 2024 and 2023, the Company’s operations were primarily in the United States. The Company had immaterial operations in the United Kingdom (“U.K.”) prior to the disposition of its U.K. subsidiary on August 1, 2023. There have been no material changes to the Company’s significant accounting policies during the three months ended June 30, 2024, as compared to the audited consolidated financial statements in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2024 filed with the Securities and Exchange Commission (the “SEC”) on May 30, 2024 (the “Fiscal 2024 Form 10-K”).
Unaudited Interim Condensed Consolidated Financial Information	Unaudited Interim Condensed Consolidated Financial Information The accompanying interim condensed consolidated financial statements as of June 30, 2024 and for the three months ended June 30, 2024 and 2023 and accompanying notes, are unaudited. These unaudited interim condensed consolidated financial statements (the “condensed consolidated financial statements”) have been prepared in accordance with GAAP applicable to interim financial statements. These financial statements are presented in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) and do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. As such, the information included herein should be read in conjunction with the consolidated financial statements and accompanying notes as of and for the fiscal year ended March 31, 2024 (the “audited consolidated financial statements”) that were included in the Fiscal 2024 Form 10-K. In management’s opinion, the unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements, which include only normal recurring adjustments, necessary for a fair statement of the Company’s financial position as of June 30, 2024 and its condensed consolidated results of operations and cash flows for the three months ended June 30, 2024 and 2023. The results of operations for the three months ended June 30, 2024 are not necessarily indicative of the results expected for the year ending March 31, 2025 or any other future interim or annual periods.
Fiscal Year	Fiscal Year The Company’s fiscal year ends on March 31. References to fiscal 2025 refer to the fiscal year ending March 31, 2025 and references to fiscal 2024 and fiscal 2023 refer to the fiscal years ended March 31, 2024 and March 31, 2023, respectively.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period and the accompanying notes. Significant items subject to such estimates and assumptions include, but are not limited to the determination of standalone selling price for various performance obligations; the estimated expected benefit period for the rate and recognition pattern of breakage revenue for purchases where a saliva collection kit (“kit”) is never returned for processing; the capitalization and estimated useful life of internal use software; the useful life of long-lived assets; fair value of intangible assets acquired in business combinations; the incremental borrowing rate for operating leases; stock-based compensation including the determination of the fair value of stock options and annual incentive bonuses payable in the form of restricted stock units (“RSUs”); the assumptions used in going concern assessments; and the valuation of deferred tax assets and uncertain tax positions. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from these estimates, and such differences could be material to the condensed consolidated financial statements. The Company is not aware of any specific event or circumstance that would require revisions to estimates, updates to judgments, or adjustments to the carrying value of assets or liabilities. These estimates may change, as new events occur and/or additional information is obtained, and will be recognized in the condensed consolidated financial statements as soon as they become known.
Concentration of Supplier Risk	Concentration of Supplier Risk Certain of the raw materials, components, and equipment associated with the deoxyribonucleic acid (“DNA”) microarrays and kits used by the Company in the delivery of its services are available only from third-party suppliers. The Company also relies on a third-party laboratory service for the processing of its customer samples. Shortages and slowdowns could occur in these essential materials, components, equipment, and laboratory services due to an interruption of supply or increased demand in the industry. If the Company were unable to procure certain materials, components, equipment, or laboratory services at acceptable prices, it would be required to reduce its laboratory operations, which could have a material adverse effect on its results of operations. A single supplier accounted for 100% of the Company’s total purchases of microarrays, and a separate single supplier accounted for 100% of the Company’s total purchases of kits for the three months ended June 30, 2024 and 2023. One laboratory service provider accounted for 100% of the Company’s processing of customer samples for the three months ended June 30, 2024 and 2023.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to a concentration of credit risk include cash, cash equivalents, and accounts receivable. The Company maintains a majority of its cash and cash equivalents with a single high-quality financial institution, the composition and maturities of which are regularly monitored by the Company. The Company’s revenue and accounts receivable are derived primarily from the United States. See Note 3, “Revenue,” for additional information regarding geographical disaggregation of revenue. The Company grants credit to its customers in the normal course of business, performs credit evaluations of its significant customers on an as-needed basis, and does not require collateral. Concentrations of credit risk are limited as the Company’s trade receivables are primarily related to third parties, which collect its credit card receivables, and large multinational corporations. The Company regularly monitors the aging of accounts receivable balances.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash Cash consists of bank deposits held at financial institutions. Cash in U.S. banks is insured to the extent defined by the Federal Deposit Insurance Corporation. Cash equivalents consist primarily of short-term money market funds. The Company maintains certain cash amounts restricted as to its withdrawal or use, which are related to letters of credit in connection with operating lease agreement and the Company’s credit card processor, as well as collateral held against the Company’s corporate credit cards. The Company held total restricted cash of $10.5 million and $8.4 million as of June 30, 2024 and March 31, 2024, respectively. The increase relates to a new letter of credit entered into by the Company in April 2024 as collateral related to the Company’s credit card processor.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash Cash consists of bank deposits held at financial institutions. Cash in U.S. banks is insured to the extent defined by the Federal Deposit Insurance Corporation. Cash equivalents consist primarily of short-term money market funds. The Company maintains certain cash amounts restricted as to its withdrawal or use, which are related to letters of credit in connection with operating lease agreement and the Company’s credit card processor, as well as collateral held against the Company’s corporate credit cards. The Company held total restricted cash of $10.5 million and $8.4 million as of June 30, 2024 and March 31, 2024, respectively. The increase relates to a new letter of credit entered into by the Company in April 2024 as collateral related to the Company’s credit card processor.
Escrow Related to Acquisition	Escrow Related to Acquisition On November 1, 2021, the Company completed its acquisition of Lemonaid Health, and upon the acquisition closing date, a cash payment of $13.0 million was placed in escrow to cover a potential purchase price adjustment and to secure the indemnification obligations of the former equity holders of Lemonaid Health. In May 2023, $6.0 million of the escrow amount was released. The remaining escrow amount of $6.2 million were released during the three months ended June 30, 2024. Accordingly, the entire escrow amount has been released.
Liquidity	Liquidity The Company’s operations have been financed primarily through the sales of equity securities and sales of Personal Genome Service® (“PGS”), telehealth, and research services. During fiscal 2023, the Company received gross proceeds of $309.7 million in connection with the transactions contemplated by that certain Agreement and Plan of Merger (the “Merger Agreement”), dated February 4, 2021, as amended on February 13, 2021 and March 25, 2021, by and among VG Acquisition Corp., Chrome Merger Sub, Inc., and 23andMe, Inc. (the “Merger”), and $250.0 million from the PIPE investment consummated in connection with the Merger. The Company expects to continue to incur operating losses and negative cash flows from operations for the foreseeable future due to the investments it intends to continue to make in research and development to capitalize on market opportunities and drive long-term growth, as well as operating expenses incurred within general and administrative, and sales and marketing. The Company will require additional financing to execute ongoing and future operations. The Company’s ability to obtain additional financing depends on a number of factors, including, but not limited to, the market price of the Company’s Class A common stock, the availability and cost of additional equity capital, the Company’s ability to retain the listing of its Class A common stock on The Nasdaq Stock Market, and the general economic and industry conditions affecting the availability and cost of capital. The Company is dependent upon future financing to provide the cash necessary to execute our ongoing and future operations. Management will continue to monitor the Company’s liquidity position. In connection with preparing the accompanying condensed consolidated financial statements, the Company is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the condensed consolidated financial statements are issued. As of June 30, 2024, the Company had cash and cash equivalents of $170.0 million. Based on current cash resources and the implementation of the previously-disclosed reductions in force in June and August 2023, the Company believes that its cash and cash equivalents will be sufficient to fund estimated operating expenses and capital expenditure requirements for at least 12 months and that the potential conditions or events discussed above in the aggregate do not raise substantial doubt for a period of at least 12 months from the date the condensed consolidated financial statements are issued. On November 10, 2023, the Company received a deficiency letter (the “Nasdaq Letter”) from the Nasdaq Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”), notifying the Company that it is not in compliance with Nasdaq Listing Rule 5450(a)(1), which requires the Company to maintain a minimum bid price of at least $1.00 per share for continued listing on The Nasdaq Global Select Market (the “Minimum Bid Requirement”). The Company’s failure to comply with the Minimum Bid Requirement was based on its Class A common stock per share price being below the $1.00 threshold for a period of 30 consecutive trading days. Pursuant to the Nasdaq Letter, the Company had an initial 180 calendar days from the date of the Nasdaq Letter to regain compliance. The Company did not regain compliance during the initial compliance period. On May 9, 2024, the Company received a notification letter from the Staff notifying the Company that it had been granted an additional 180 days, or until November 4, 2024, to regain compliance with the Minimum Bid Requirement, based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on The Nasdaq Capital Market with the exception of the bid price requirement, and the Company’s written notice of its intention to cure the deficiency during the second compliance period. In order to be eligible to receive the second compliance period, the Company applied to have its Class A common stock transferred from the Nasdaq Global Select Market to the Nasdaq Capital Market. If at any time before November 4, 2024, the bid price of the Class A common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Staff will provide written confirmation that the Company has achieved compliance. If the Company does not regain compliance with the Minimum Bid Requirement by the end of the second compliance period, the Class A common stock will become subject to delisting. In the event that the Company receives notice that the Class A common stock is being delisted, the Nasdaq listing rules permit the Company to appeal a delisting determination by the Staff to a hearings panel. The Company intends to monitor the closing bid price of its common stock between now and November 4, 2024, and will consider available options to regain compliance with the Minimum Bid Requirement. In connection with the foregoing, on July 16, 2024, the Company filed a Definitive Proxy Statement on Schedule 14A (the “Proxy Statement”) with the SEC in connection with the Company’s 2024 Annual Meeting of Stockholders to be held on August 26, 2024 (the “Annual Meeting”). As described in the Proxy Statement, at the Annual Meeting, the stockholders of the Company will vote on a proposal to approve an amendment to the Company’s Certificate of Incorporation to combine outstanding shares of the Company’s Class A common stock and Class B common stock, respectively, into a lesser number of outstanding shares, or a “reverse stock split,” by a ratio of not less than one-for-five and not more than one-for-thirty, with the exact ratio to be set within this range by the Company’s Board of Directors in its sole discretion (“Reverse Stock Split Vote”). However, there can be no assurance that the Reverse Stock Split Vote will be approved by the Company’s stockholders, that the Company will effect the reverse stock split and regain compliance with the Minimum Bid Requirement or that the Company will be able to otherwise regain compliance with the Minimum Bid Requirement or will be in compliance with other Nasdaq Listing Rules. Neither the Nasdaq Letter nor the Company’s noncompliance with the Minimum Bid Requirement have an immediate effect on the listing or trading of the Class A common stock, which will continue to trade on The Nasdaq Stock Market under the symbol “ME.”
Recently Issued Accounting Pronouncements Not Yet Effective	Recently Issued Accounting Pronouncements Not Yet Effective In November 2023, the Financial Accounting Standard Board (“FASB”) issued Accounting Standard Updated (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires disclosure of incremental segment information on an annual and interim basis. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and requires retrospective application to all prior periods presented in the financial statements. Early adoption is permitted. The Company is currently evaluating the impacts of the new standard. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands disclosures in an entity’s income tax rate reconciliation table and income taxes paid information. This ASU is effective for fiscal years beginning after December 15, 2024 and may be adopted on a prospective or retrospective basis. Early adoption is permitted. The Company is currently evaluating the impacts and method of adoption.

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Accounts receivable, net related party	$ 2,226	$ (2,227)
Accounts payable, related party	(309)	(2)
Accrued expenses and other current liabilities, related party	581	(1,889)
Deferred revenue, related party	(1,812)	(14,398)
Related Party
Accounts receivable, net related party	0	18
Accounts payable, related party	1,062	325
Accrued expenses and other current liabilities, related party	(4,300)	(3,215)
Deferred revenue, related party	$ (181)	$ (10,670)

Balance Sheet Components (Tables)

3 Months Ended

Jun. 30, 2024

Balance Sheet Related Disclosures [Abstract]

Schedule of Prepaid Expense and Other Current Assets

Prepaid expense and other current assets consisted of the following:


	June 30, 2024		March 31, 2024
	(in thousands)
Prepaid expenses	$	11,771	$	9,296
Insurance recovery receivable	24,128		2,188
Other receivables	2,538		3,563
Other current assets	2,155		1,794
Prepaid expenses and other current assets	$	40,592	$	16,841

Schedule of Property and Equipment, Net

Property and equipment, net consisted of the following:


	June 30, 2024		March 31, 2024
	(in thousands)
Computer equipment and software	$	7,399	$	7,485
Laboratory equipment and software	51,419		51,635
Furniture and office equipment	8,929		8,929
Leasehold improvements	41,394		41,180
Capitalized asset retirement obligations	853		853
Property and equipment, gross	109,994		110,082
Less: accumulated depreciation and amortization	(83,374)		(81,731)
Property and equipment, net	$	26,620	$	28,351

Schedule of Lessee Operating Lease, Right-of-Use Asset

Operating lease right-of-use assets, net consisted of the following:


	June 30, 2024		March 31, 2024
	(in thousands)
Operating lease right-of-use assets	$	85,166	$	85,166
Less: accumulated amortization	(38,150)		(36,272)
Operating lease right-of-use assets, net	$	47,016	$	48,894

Schedule of Internal Use Software

Internal-use software, net consisted of the following:


	June 30, 2024		March 31, 2024
	(in thousands)
Capitalized internal-use software	$	37,270	$	35,918
Less: accumulated amortization	(17,202)		(15,402)
Internal-use software, net	$	20,068	$	20,516

Schedule of Intangible Assets, Net

Intangible assets, net consisted of the following:


	June 30, 2024
	Weighted Average Remaining Useful Life (Years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(in thousands, except years)
Customer relationships	0.0	$	14,900	$	(14,900)	$	—
Partnerships	7.3	9,000		(2,400)		6,600
Trademark	2.3	11,000		(5,867)		5,133
Developed technology	4.3	24,100		(9,181)		14,919
Non-compete agreements	2.3	2,800		(1,493)		1,307
Patents	4.3	5,500		(2,184)		3,316
Total intangible assets		$	67,300	$	(36,025)	$	31,275


	March 31, 2024
	Weighted Average Remaining Useful Life (Years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(in thousands, except years)
Customer relationships	0.0	$	14,900	$	(14,900)	$	—
Partnerships	7.6	9,000		(2,175)		6,825
Trademark	2.6	11,000		(5,317)		5,683
Developed technology	4.6	24,100		(8,320)		15,780
Non-compete agreements	2.6	2,800		(1,353)		1,447
Patents	4.5	5,500		(1,980)		3,520
Total intangible assets		$	67,300	$	(34,045)	$	33,255

Schedule of Amortization Expense of the Identified Intangible Assets

Estimated future amortization expense of the identified intangible assets as of June 30, 2024 was as follows:


	Estimated Amortization
	(in thousands)
Fiscal years ending March 31,
Remainder of 2025 (Remaining nine months)	$	5,940
2026	7,919
2027	6,769
2028	5,006
2029	3,175
Thereafter	2,466
Total estimated future amortization expense	$	31,275

Schedule of Accrued Expense and Other Current Liabilities

Accrued expense and other current liabilities consisted of the following:


	June 30, 2024		March 31, 2024
	(in thousands)
Accrued payables	$	7,953	$	9,697
Accrued settlement and legal expenses	34,655		3,260
Accrued compensation and benefits	3,952		4,266
Accrued vacation	7,185		7,221
Accrued bonus	4,459		7,420
Accrued clinical expenses	5,294		9,291
Accrued taxes and other	1,175		1,108
Total accrued expenses and other current liabilities	$	64,673	$	42,263

Related Party Transactions (Details) - USD ($) $ in Thousands		1 Months Ended		3 Months Ended		12 Months Ended
	Feb. 04, 2021	Jan. 31, 2024	Jul. 31, 2018	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024
Related Party Transaction [Line Items]
Total revenue				$ 40,414	$ 60,864
Related Party \| Glaxo Smith Kline Plc Collaboration Agreement
Related Party Transaction [Line Items]
Voting interest percentage				19.80%		19.90%
Related Party \| TWF Agreement
Related Party Transaction [Line Items]
Total revenue				$ 200		$ 0
Related Party \| TWF Agreement \| Troper Wojcicki Foundation
Related Party Transaction [Line Items]
TWF agreement, period		5 years
Fees under initial SOW		$ 5,400		$ 800		$ 1,000
Related Party \| Series F1 Redeemable Convertible Preferred Stock \| Glaxo Smith Kline Plc Collaboration Agreement
Related Party Transaction [Line Items]
Redeemable convertible preferred stock purchase (in shares)			17,291,066
Related Party \| Class A Common Stock \| The Anne Wojcicki Foundation
Related Party Transaction [Line Items]
Subscription shares issued (in shares)	2,500,000

Restructuring

3 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Restructuring

In June 2023, the Company approved a reduction in force intended to restructure and align strategically its workforce with the Company’s strategy and to reduce the Company’s operating costs, primarily in the Consumer and Research Services segment. Subsequently in August 2023, the Company approved another reduction in force primarily intended to restructure and strategically align the Therapeutics segment’s workforce. As a result, during the three months ended June 30, 2023, the Company recorded restructuring charges of $4.2 million, within restructuring and other charges in the condensed consolidated statements of operations, of which $3.6 million was related to cash severance payments and benefits continuation. There were no restructuring charges related to the June 2023 and August 2023 reductions in force recorded during the three months ended June 30, 2024. The remaining balance of $22 thousand that was accrued as of March 31, 2024 was paid in full during the three months ended June 30, 2024, leaving no remaining balance as of June 30, 2024.

The following table shows the total amount incurred and accrued related to one-time employee termination benefits:


	One-Time Employee Termination Benefits
	(in thousands)
Accrued restructuring costs included in accrued expenses and other current liabilities as of March 31, 2024	$	22
Restructuring charges incurred during the period	—
Amounts paid during the period	(22)
Accrued restructuring costs included in accrued expenses and other current liabilities as of June 30, 2024	$	—

Leases - Schedule of Future Minimum Lease Payments Related to Company's Operating Lease Liability (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Leases [Abstract]
Remainder of 2025 (Remaining nine months)	$ 10,416
2026	15,946
2027	15,472
2028	11,666
2029	12,016
Thereafter	29,413
Total future operating lease payments	94,929
Less: imputed interest	(20,766)
Total operating lease liabilities	$ 74,163

Balance Sheet Components - Schedule of Amortization Expense of the Identified Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Remainder of 2025 (Remaining nine months)	$ 5,940
2026	7,919
2027	6,769
2028	5,006
2029	3,175
Thereafter	2,466
Total estimated future amortization expense	$ 31,275	$ 33,255

Segment Information - Schedule of Revenue and Adjusted EBITDA by Segment (Details) - USD ($)	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Segment Revenue
Total revenue	$ 40,414,000	$ 60,864,000
Segment Adjusted EBITDA:
Total Adjusted EBITDA	(35,162,000)	(49,800,000)
Net loss	(69,400,000)	(104,624,000)
Adjustments:
Interest income, net	(2,574,000)	(4,307,000)
Other (income) expense, net	19,000	(333,000)
Depreciation and amortization	4,011,000	4,478,000
Amortization of acquired intangible assets	1,776,000	3,638,000
Stock-based compensation expense	21,577,000	51,100,000
Transaction costs related to disposition of Lemonaid Health	0	248,000
Cyber security incident expenses, net of probable insurance recoveries	9,429,000	0
Total Adjusted EBITDA	(35,162,000)	(49,800,000)
Corporate, Non-Segment
Segment Adjusted EBITDA:
Total Adjusted EBITDA	(13,904,000)	(13,060,000)
Consumer and Research Services
Segment Revenue
Total revenue	40,414,000	60,864,000
Consumer and Research Services \| Operating Segments
Segment Adjusted EBITDA:
Total Adjusted EBITDA	(8,841,000)	(5,602,000)
Therapeutics
Segment Revenue
Total revenue	0	0
Therapeutics \| Operating Segments
Segment Adjusted EBITDA:
Total Adjusted EBITDA	$ (12,417,000)	$ (31,138,000)

Organization and Description of Business (Details)	3 Months Ended
Organization and Description of Business (Details)	Jun. 30, 2024 reportable_segment	Jul. 29, 2024 $ / shares
Business Acquisition [Line Items]
Number of reporting segments \| reportable_segment	2
Subsequent Event \| Preliminary Proposal
Business Acquisition [Line Items]
Business acquisition, share price (in usd per share) \| $ / shares		$ 0.40

Income Taxes (Details) - USD ($)	3 Months Ended
Income Taxes (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income tax benefit	$ 0	$ 0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.7)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Subparagraph (a)
-SubTopic 20
-Topic 740
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482659/740-20-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Disposition of Subsidiary (Details) - USD ($)	3 Months Ended
Disposition of Subsidiary (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Disposal Groups, Including Discontinued Operations [Line Items]
Loss on disposal	$ 0	$ 248,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Lemonaid Health Limited
Disposal Groups, Including Discontinued Operations [Line Items]
Loss on disposal	$ 0	$ 200,000

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Revenue:
Total revenue	$ 40,414,000	$ 60,864,000
Cost of revenue:
Total cost of revenue	19,900,000	30,184,000
Gross profit	20,514,000	30,680,000
Operating expenses:
Research and development (includes related party expenses of $571 and $3,301 for the three months ended June 30, 2024 and 2023, respectively)	44,637,000	62,329,000
Sales and marketing	15,472,000	22,658,000
General and administrative	32,360,000	50,740,000
Restructuring and other charges	0	4,217,000
Total operating expenses	92,469,000	139,944,000
Loss from operations	(71,955,000)	(109,264,000)
Other income (expense):
Interest income, net	2,574,000	4,307,000
Other income (expense), net	(19,000)	333,000
Loss before income taxes	(69,400,000)	(104,624,000)
Net loss	(69,400,000)	(104,624,000)
Other comprehensive loss, net of tax	0	(334,000)
Total comprehensive loss	$ (69,400,000)	$ (104,958,000)
Net loss per share of Class A and Class B common stock attributable to common stockholders:
Basic (in usd per share)	$ (0.14)	$ (0.23)
Diluted (in usd per share)	$ (0.14)	$ (0.23)
Weighted-average shares used to compute net loss per share:
Basic (in shares)	495,892,915	462,254,442
Diluted (in shares)	495,892,915	462,254,442
Service
Revenue:
Total revenue	$ 34,679,000	$ 53,260,000
Cost of revenue:
Total cost of revenue	17,249,000	26,946,000
Product
Revenue:
Total revenue	5,735,000	7,604,000
Cost of revenue:
Total cost of revenue	$ 2,651,000	$ 3,238,000

Revenue - Additional Information (Details) - USD ($)	3 Months Ended
Revenue - Additional Information (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024
Disaggregation of Revenue [Line Items]
Revenue recognized from unreturned kits	$ 4,000,000.0	$ 4,600,000
Contract assets	$ 0		$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Disaggregation of Revenue [Line Items]
Revenue to be recognized, percentage	69.00%
Remaining performance obligation, expected timing of satisfaction, period	12 months
Consumer services
Disaggregation of Revenue [Line Items]
Deferred revenue for customer services	$ 51,300,000		52,300,000
Revenue recognized	21,600,000
Research services
Disaggregation of Revenue [Line Items]
Deferred revenue for customer services	21,700,000		22,500,000
Revenue recognized	1,000,000.0
Remaining performance obligations	26,400,000
Research services \| Related Party
Disaggregation of Revenue [Line Items]
Deferred revenue for customer services	20,800,000		$ 21,000,000.0
Revenue recognized	$ 200,000

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Lessee Lease Description [Line Items]
Lease, option to extend, term	7 years
Operating lease cost	$ 3.3	$ 3.4
Variable lease cost	$ 1.5	$ 1.3
Minimum
Lessee Lease Description [Line Items]
Operating lease, contract period	1 year 6 months
Maximum
Lessee Lease Description [Line Items]
Operating lease, contract period	7 years 1 month 6 days

Balance Sheet Components - Schedule of Prepaid Expense and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Prepaid expenses	$ 11,771	$ 9,296
Insurance recovery receivable	24,128	2,188
Other receivables	2,538	3,563
Other current assets	2,155	1,794
Prepaid expenses and other current assets	$ 40,592	$ 16,841

Variable Interest Entities (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Recognized revenue	$ 40,414	$ 60,864
VIE
Recognized revenue	$ 900	$ 9,000

- Definition

+ References

+ Details

Net Loss Per Share Attributable to Common Stockholders - Schedule of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net loss attributable to common stockholders	$ (69,400)	$ (104,624)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	495,892,915	462,254,442
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	495,892,915	462,254,442
Net loss per share attributable to common stockholders:
Net loss per share attributable to common stockholders, basic (in usd per share)	$ (0.14)	$ (0.23)
Net loss per share attributable to common stockholders, diluted (in usd per share)	$ (0.14)	$ (0.23)
Class A Common Stock
Numerator:
Net loss attributable to common stockholders	$ (46,075)	$ (66,563)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	329,225,146	294,089,562
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	329,225,146	294,089,562
Net loss per share attributable to common stockholders:
Net loss per share attributable to common stockholders, basic (in usd per share)	$ (0.14)	$ (0.23)
Net loss per share attributable to common stockholders, diluted (in usd per share)	$ (0.14)	$ (0.23)
Class B Common Stock
Numerator:
Net loss attributable to common stockholders	$ (23,325)	$ (38,061)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	166,667,769	168,164,880
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	166,667,769	168,164,880
Net loss per share attributable to common stockholders:
Net loss per share attributable to common stockholders, basic (in usd per share)	$ (0.14)	$ (0.23)
Net loss per share attributable to common stockholders, diluted (in usd per share)	$ (0.14)	$ (0.23)