23andMe is a direct-to-consumer genetic testing company. Its core product, the Personal Genome Service (PGS), involves customers purchasing a saliva collection kit, submitting a sample, and receiving genetic reports covering ancestry, health risk predispositions, carrier status for heritable conditions, and pharmacogenetics. 23andMe sells primarily through its own website and app, as well as Amazon and Walmart.com in the U.S., U.K., and Canada. As of March 2025, 23andMe had approximately 14.4M PGS customers. The company also operates Lemonaid Health, a telehealth subsidiary connecting patients with licensed healthcare professionals, though this business is being wound down as part of a pending asset sale. 23andMe makes money through one-time kit sales and recurring annual subscription fees across its tiered PGS offerings — Ancestry Service, Health + Ancestry Service, 23andMe+ Premium, and Total Health. Subscription revenue grew from roughly 9% of total revenue in FY24 to ~19% in FY25, reflecting a deliberate shift toward higher-margin recurring revenue. A separate Research Services business licenses 23andMe's genetic database to pharma and biotech companies, though this revenue has declined materially since its primary partnership with GSK ended in mid-2023. 23andMe filed for Chapter 11 bankruptcy in March 2025 and selected Regeneron as the lead buyer for substantially all assets at $256M, subject to court and regulatory approval.