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Restructurings (Tables) | 12 Months Ended
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Jun. 30, 2025
Fiscal Year 2024 Restructuring Actions |
Restructuring Cost and Reserve [Line Items] |
Schedule of restructuring charges | The restructuring and restructuring-related charges, including the impairment (recovery) of assets held-for-sale, for periods presented were recorded in the Consolidated Statements of Earnings and Comprehensive Income as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended
​ | ​ | June 30,
​ | ​ | ​ | 2025 | ​ | ​ | 2024
Cost of sales | ​ | $ | — | ​ | $ | 3,349
Selling, general and administrative(1) | ​ | ​ | (1,191) | ​ | ​ | 30,638
Total | ​ | $ | (1,191) | ​ | $ | 33,987
(1) | Restructuring actions impacting research and development are not material to separately disclose and have been included within Selling, general and administrative costs.
Restructuring and restructuring-related costs by segment are as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended June 30,
​ | ​ | 2025 | ​ | 2024
​ | ​ | ​ | Employee | ​ | ​ | Asset-related | ​ | ​ | Recovery of | ​ | ​ | ​ | ​ | ​ | Employee | ​ | ​ | Asset-related | ​ | ​ | Impairment of | ​ | ​ | ​
​ | ​ | ​ | severance | ​ | ​ | and other | ​ | ​ | assets held-for-sale | ​ | ​ | Total | ​ | ​ | severance | ​ | ​ | and other | ​ | ​ | assets held-for-sale | ​ | ​ | Total
Protein Sciences | ​ | $ | 127 | ​ | $ | 73 | ​ | $ | (2,557) | ​ | $ | (2,357) | ​ | $ | 3,483 | ​ | $ | 5,130 | ​ | $ | 21,963 | ​ | $ | 30,576
Diagnostics and Spatial Biology | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,007 | ​ | ​ | 224 | ​ | ​ | — | ​ | ​ | 1,231
Corporate | ​ | ​ | 86 | ​ | ​ | 1,080 | ​ | ​ | — | ​ | ​ | 1,166 | ​ | ​ | 1,153 | ​ | ​ | 1,027 | ​ | ​ | — | ​ | ​ | 2,180
Total | ​ | $ | 213 | ​ | $ | 1,153 | ​ | $ | (2,557) | ​ | $ | (1,191) | ​ | $ | 5,643 | ​ | $ | 6,381 | ​ | $ | 21,963 | ​ | $ | 33,987
Schedule of restructuring reserve | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Impairment (recovery) | ​ | ​ | ​
​ | ​ | ​ | Employee | ​ | ​ | Asset-related | ​ | ​ | of assets | ​ | ​ | ​
​ | ​ | ​ | severance(1) | ​ | ​ | and other(2) | ​ | ​ | held-for-sale | ​ | ​ | Total
Initial expense incurred in the second quarter of 2024 | ​ | ​ | 4,882 | ​ | ​ | 504 | ​ | ​ | 6,038 | ​ | ​ | 11,424
Incremental expense incurred in the remainder of 2024 | ​ | ​ | 542 | ​ | ​ | 5,877 | ​ | ​ | 15,926 | ​ | ​ | 22,345
Cash payments | ​ | ​ | (4,882) | ​ | ​ | (2,800) | ​ | ​ | — | ​ | ​ | (7,682)
Non-cash adjustments | ​ | ​ | — | ​ | ​ | (3,391) | ​ | ​ | (21,963) | ​ | ​ | (25,354)
Adjustments(3) | ​ | ​ | 219 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 219
Accrued restructuring actions balance as of June 30, 2024 | ​ | $ | 761 | ​ | $ | 190 | ​ | $ | — | ​ | $ | 952
Incremental expense incurred in fiscal 2025 | ​ | ​ | 213 | ​ | ​ | 1,153 | ​ | ​ | (2,557) | ​ | ​ | (1,191)
Cash payments | ​ | ​ | (974) | ​ | ​ | (1,343) | ​ | ​ | — | ​ | ​ | (2,317)
Non-cash adjustments | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,557 | ​ | ​ | 2,557
Accrued restructuring actions balance as of June 30, 2025 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
(1) | Relates to impacted employees’ final paycheck, separation payments, outplacement services, legal fees, and retention packages related to the closure or sale of certain distribution and manufacturing sites.
​
(2) | Primarily relates to impairment of right-of-use assets, lease termination fees, consulting fees, and expenses for changes to supporting IT systems that are enabling the Company to complete the restructuring initiatives.
​
(3) | Relates to the refinement of the accrual recorded in the second quarter of fiscal 2024.
​
Restructuring Plan to Optimize Global Manufacturing |
Restructuring Cost and Reserve [Line Items] |
Schedule of restructuring charges | The restructuring and restructuring-related charges for periods presented were recorded in the Consolidated Statements of Earnings and Comprehensive Income as follows (in thousands):
​ | ​ | ​ | ​
​ | ​ | Year Ended
​ | ​ | June 30,
​ | ​ | 2025
Cost of sales | ​ | $ | 11,471
Selling, general and administrative | ​ | ​ | 84,160
Total | ​ | $ | 95,631
Restructuring and restructuring-related costs by segment are as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended June 30, 2025
​ | ​ | ​ | Employee | ​ | ​ | Asset-related | ​ | ​ | Impairment of | ​ | ​ | ​
​ | ​ | ​ | severance | ​ | ​ | and other | ​ | ​ | assets held-for-sale | ​ | ​ | Total
Protein Sciences | ​ | $ | — | ​ | $ | 11,471 | ​ | $ | — | ​ | $ | 11,471
Diagnostics and Spatial Biology | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 83,059 | ​ | ​ | 83,059
Corporate | ​ | ​ | 1,041 | ​ | ​ | 60 | ​ | ​ | — | ​ | ​ | 1,101
Total | ​ | $ | 1,041 | ​ | $ | 11,531 | ​ | $ | 83,059 | ​ | $ | 95,631
Schedule of restructuring reserve | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Impairment | ​ | ​ | ​
​ | ​ | Employee | ​ | Asset | ​ | ​ | of assets | ​ | ​
​ |  | severance(1) |  | impairment and other(2) | ​ | ​ | held-for-sale |  | Total
Expense incurred in the fourth quarter of 2025 | ​ | $ | 1,041 | ​ | $ | 11,531 | ​ | $ | 83,059 | ​ | $ | 95,631
Cash payments | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Non-cash adjustments | ​ | ​ | — | ​ | ​ | (11,471) | ​ | ​ | (83,059) | ​ | ​ | (94,530)
Accrued restructuring actions balance as of June 30, 2025 | ​ | $ | 1,041 | ​ | $ | 60 | ​ | $ | — | ​ | $ | 1,101
(1) | Relates to impacted employees’ final paycheck, separation payments, outplacement services, legal fees, and retention packages.
(2) | Primarily relates to impairment of inventory and equipment.
Restructuring Plan to Recover Operating Margins |
Restructuring Cost and Reserve [Line Items] |
Schedule of restructuring charges |
​ | ​ | ​ | ​
​ | ​ | Year Ended
​ | ​ | June 30,
​ | ​ | 2025
Cost of sales | ​ | $ | 8,585
Selling, general and administrative(1) | ​ | ​ | 5,832
Total | ​ | $ | 14,417
(1) | Restructuring actions impacting research and development are not material to separately disclose and have been included within Selling, general and administrative costs.
Restructuring and restructuring-related costs by segment are as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended June 30, 2025
​ | ​ | ​ | Employee | ​ | ​ | Asset-related | ​ | ​ | ​
​ | ​ | ​ | severance | ​ | ​ | and other | ​ | ​ | Total
Protein Sciences | ​ | $ | 2,425 | ​ | $ | 10,972 | ​ | $ | 13,397
Diagnostics and Spatial Biology | ​ | ​ | 411 | ​ | ​ | — | ​ | ​ | 411
Corporate | ​ | ​ | 609 | ​ | ​ | — | ​ | ​ | 609
Total | ​ | $ | 3,445 | ​ | $ | 10,972 | ​ | $ | 14,417
Schedule of restructuring reserve | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Employee | ​ | Asset | ​ | ​
​ |  | severance(1) |  | impairment and other(2) |  | Total
Initial expense incurred in the first quarter of 2025 | ​ | $ | 2,852 | ​ | $ | 7,417 | ​ | $ | 10,269
Incremental expense incurred in remainder of 2025 | ​ | ​ | 593 | ​ | ​ | 3,555 | ​ | ​ | 4,148
Cash payments | ​ | ​ | (2,223) | ​ | ​ | (1,131) | ​ | ​ | (3,354)
Non-cash adjustments | ​ | ​ | — | ​ | ​ | (9,841) | ​ | ​ | (9,841)
Accrued restructuring actions balance as of June 30, 2025 | ​ | $ | 1,222 | ​ | $ | — | ​ | $ | 1,222
(1) | Relates to impacted employees’ final paycheck, separation payments, outplacement services, legal fees, and retention packages related to the closure or relocation of certain manufacturing sites.
(2) | Primarily relates to impairment of intangibles and inventory as a result of the closure and relocation of certain manufacturing sites.
QT Holdings Corporation | Fiscal Year 2023 Restructuring Actions |
Restructuring Cost and Reserve [Line Items] |
Schedule of restructuring charges |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Employee | ​ | Asset | ​ | ​
​ |  | severance |  | impairment and other |  | Total
Selling, general and administrative | ​ | $ | 1,328 | ​ | $ | 842 | ​ | $ | 2,170
Schedule of restructuring reserve | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Employee | ​ | Asset | ​ | ​
​ |  | severance |  | impairment and other |  | Total
Expense incurred in the first quarter of 2023 | ​ | $ | 1,328 | ​ | $ | 842 | ​ | $ | 2,170
Cash payments | ​ | ​ | (1,233) | ​ | ​ | (772) | ​ | ​ | (2,005)
Adjustments | ​ | ​ | (95) | ​ | ​ | (70) | ​ | ​ | (165)
Accrued restructuring actions balances as of June 30, 2023 | ​ | $ | — | ​ | $ | — | ​ | $ | —
Protein Sciences | Fiscal Year 2023 Restructuring Actions |
Restructuring Cost and Reserve [Line Items] |
Schedule of restructuring reserve |
​ | ​ | ​ | ​
​ | ​ | Employee
​ | ​ | severance
Expense incurred in fiscal year 2023 | ​ | $ | 1,677
Fiscal year 2023 cash payments | ​ | ​ | (762)
Fiscal year 2023 adjustments | ​ | ​ | (18)
Accrued restructuring actions balance as of June 30, 2023 | ​ | $ | 897
Fiscal year 2024 cash payments | ​ | ​ | (1,118)
Fiscal year 2024 adjustments(1) | ​ | ​ | 221
Accrued restructuring actions balance as of June 30, 2024 | ​ | $ | —
(1) | Fiscal 2024 adjustments relate to the refinement of the accrual recorded in fiscal 2023.
​

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