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Note 18 - Segment and Geographic Information | 12 Months Ended
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Sep. 30, 2025
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | 18. Segment and Geographic Information Operating segments are defined as components of an enterprise that engage in business activities from which it may recognize revenues and incur expenses, and for which discrete financial information is available and regularly reviewed by the CODM in deciding how to allocate resources and to assess performance. The Company’s operations are organized and managed by type of products and services and segment information is reported accordingly. The Company’s Chief Executive Officer is the Company’s CODM. There have been no operating segments aggregated to arrive at the Company’s reportable segments. Revenues for all operating segments include only transactions with unaffiliated customers and include no intersegment revenues. The accounting policies of the reportable segments are the same as those described in Note 2, Summary of Significant Accounting Policies. As of November 12, 2024, the Company’s B Medical Systems business met the “held for sale” criteria and “discontinued operations” criteria in accordance with FASB ASC 205 and the results of the B Medical Systems business are included within discontinued operations. As a result, the Company’s continuing operations includes the following two operating and reportable segments:
| ● | Sample Management Solutions. The Sample Management Solutions business resources operate as a single business unit offering end-to-end sample management products and services, including: Sample Repository Services and Core Products (Automated Stores, Cryogenic Systems, Automated Sample Tube, Consumables and Instruments and Controlled Rate Thawing Devices).
| ● | Multiomics. The Multiomics business resources operate as a single business unit offering genomic and other sample analysis services, including gene sequencing, synthesis and related services.
Management considers adjusted operating income (loss) as the primary performance metric when evaluating each segment’s operations. The Company uses this measure because it helps management understand and evaluate the segments’ core operating results and facilitates comparison of performance for determining compensation. The CODM uses segment revenues and segment adjusted operating income (loss) predominantly in the monthly and quarterly business review processes. During these processes, the CODM considers budget-to-actual variances to evaluate both internal (for example, changes in selling prices, strategic growth investments, productivity and business mix) and external (for example, inflation and foreign currency) events and conditions. The following is the summary of the financial information for the Company’s reportable segments for the fiscal years ended September 30, 2025, 2024 and 2023 (in thousands):
|  | Year Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Sample Management Solutions |  | $ | 324,590 |  |  | $ | 318,896 |  |  | $ | 303,190 |
Multiomics |  |  | 269,231 |  |  |  | 254,552 |  |  |  | 248,296 |
Total revenue |  | $ | 593,821 |  |  | $ | 573,448 |  |  | $ | 551,486 |
Adjusted operating income (loss): |  |  |  |  |  |  |  |  |  |  |  |
Sample Management Solutions |  | $ | 27,550 |  |  | $ | 11,106 |  |  | $ | (2,293 | )
Multiomics |  |  | (11,937 | ) |  |  | (7,733 | ) |  |  | (13,337 | )
Segment adjusted operating income (loss) |  |  | 15,613 |  |  |  | 3,373 |  |  |  | (15,630 | )
Amortization of completed technology |  |  | 7,965 |  |  |  | 8,066 |  |  |  | 7,847 |
Amortization of intangible assets other than completed technology |  |  | 16,475 |  |  |  | 20,496 |  |  |  | 24,221 |
Transformation(1) and rebranding costs |  |  | 10,405 |  |  |  | 9,879 |  |  |  | (49 | )
Restructuring charges |  |  | 5,171 |  |  |  | 6,766 |  |  |  | 4,577 |
Impairment of goodwill and intangible assets |  |  | — |  |  |  | 4,658 |  |  |  | — |
Merger and acquisition costs and costs related to share repurchase(2) |  |  | 2,403 |  |  |  | 4,874 |  |  |  | 8,962 |
Other miscellanous expenses |  |  | 38 |  |  |  | (82 | ) |  |  | 58 |
Total operating loss |  |  | (26,844 | ) |  |  | (51,284 | ) |  |  | (61,246 | )
Interest income, net |  |  | 18,779 |  |  |  | 32,891 |  |  |  | 43,541 |
Other income (expense), net |  |  | 922 |  |  |  | (732 | ) |  |  | (2,300 | )
Loss from continuing operations before income taxes |  | $ | (7,143 | ) |  | $ | (19,125 | ) |  | $ | (20,005 | )
(1) | Transformation costs represent non-recurring expenses for strategic projects with anticipated long-term benefits to the Company focused on cost reduction and productivity improvement that do not meet the definition of restructuring charges. These costs are directed at simplifying, standardizing, streamlining, and optimizing the Company’s operations, processes and systems to permanently alter the Company’s operations for the long term. For a project to be considered transformational, successful completion of the project must be expected to bring long-term material benefits to the organization and involve significant changes to process and/or underlying technology. Transformation costs in the period result from actions taken as part of the Company’s 2024 transformation plan and primarily relate to one time asset write downs associated with changes in technology, one time inventory write downs relating to restructuring actions taken in the period, and third-party consulting costs associated with process and systems re-design.
(2) | Includes expenses related to governance-related matters.
Adjusted operating income (loss) excludes charges related to amortization of intangible assets, transformation costs, restructuring charges, goodwill and intangible asset impairment, merger and acquisition costs, costs related to share repurchase and governance-related matters, and other miscellaneous expenses. The segment expenses regularly provided to the CODM are adjusted cost of revenues which primarily consist of costs of direct materials and direct labor, freight, warranty, depreciation expenses, and facilities costs and adjusted operating expenses which primarily consists of employee salaries and benefits for R&D, selling, marketing, and administrative personnel, commissions, advertising and promotional expenses, audit, legal and strategic consulting fees, depreciation expenses, facilities costs, insurance, and information systems costs. Centrally incurred costs are primarily allocated to segments using a percentage of budgeted segment revenue over total revenue.
Sample Management Solutions |  | Year Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Total revenue |  | $ | 324,590 |  |  | $ | 318,896 |  |  | $ | 303,190 |
Less: Adjusted cost of revenue |  |  | 163,345 |  |  |  | 173,173 |  |  |  | 169,106 |
Less: Adjusted operating expenses |  |  | 133,695 |  |  |  | 134,617 |  |  |  | 136,377 |
Adjusted operating income (loss) |  | $ | 27,550 |  |  | $ | 11,106 |  |  | $ | (2,293 | )
Other Information |  |  |  |  |  |  |  |  |  |  |  |
Depreciation Expense |  | $ | 11,457 |  |  | $ | 10,708 |  |  | $ | 10,527 |
Multiomics |  | Year Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Total revenue |  | $ | 269,231 |  |  | $ | 254,552 |  |  | $ | 248,296 |
Less: Adjusted cost of revenue |  |  | 152,161 |  |  |  | 137,230 |  |  |  | 135,324 |
Less: Adjusted operating expenses |  |  | 129,007 |  |  |  | 125,055 |  |  |  | 126,309 |
Adjusted operating income (loss) |  | $ | (11,937 | ) |  | $ | (7,733 | ) |  | $ | (13,337 | )
Other Information |  |  |  |  |  |  |  |  |  |  |  |
Depreciation Expense |  | $ | 15,249 |  |  | $ | 14,486 |  |  | $ | 14,208 |
The following is the summary of the asset information for the Company's reportable segments as of September 30, 2025 and 2024 (in thousands):
Assets: |  | September 30, 2025 |  |  | September 30, 2024 |  |  | September 30, 2023 |
Sample Management Solutions |  | $ | 854,402 |  |  | $ | 849,418 |  |  | $ | 675,247 |
Multiomics |  |  | 445,212 |  |  |  | 462,825 |  |  |  | 534,437 |
Total assets |  | $ | 1,299,614 |  |  | $ | 1,312,243 |  |  | $ | 1,209,684 |
The following is a reconciliation of the segment assets to the corresponding amounts presented in the Consolidated Balance Sheets as of September 30, 2025 and 2024 (in thousands):
|  | September 30, |  |  | September 30, |  |  | September 30, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Segment assets |  | $ | 1,299,614 |  |  | $ | 1,312,243 |  |  | $ | 1,209,684 |
Cash and cash equivalents, restricted cash, and marketable securities |  |  | 546,201 |  |  |  | 490,707 |  |  |  | 1,104,827 |
Deferred tax assets |  |  | 726 |  |  |  | 837 |  |  |  | 657 |
General corporate assets |  |  | 54,500 |  |  |  | 23,632 |  |  |  | 28,024 |
Assets held for sale |  |  | 158,541 |  |  |  | 272,846 |  |  |  | 542,153 |
Total assets |  | $ | 2,059,582 |  |  | $ | 2,100,265 |  |  | $ | 2,885,345 |
Revenue from external customers is attributed to geographic areas based on locations in which the product is shipped. Net revenue by geographic area for the fiscal years ended September 30, 2025, 2024 and 2023 are as follows (in thousands):
|  | Year Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Geographic Location: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 365,003 |  |  | $ | 365,054 |  |  | $ | 351,405 |
China |  |  | 58,347 |  |  |  | 58,242 |  |  |  | 52,131 |
United Kingdom |  |  | 35,388 |  |  |  | 27,204 |  |  |  | 26,660 |
Rest of Europe |  |  | 107,370 |  |  |  | 95,154 |  |  |  | 87,186 |
Asia Pacific |  |  | 23,280 |  |  |  | 21,320 |  |  |  | 25,630 |
Other |  |  | 4,433 |  |  |  | 6,474 |  |  |  | 8,474 |
Total revenue |  | $ | 593,821 |  |  | $ | 573,448 |  |  | $ | 551,486 |
Net long-lived assets, excluding goodwill and other intangible assets, by geographic area as of September 30, 2025 and 2024 is as follows (in thousands):
|  | September 30, |
|  | 2025 |  |  | 2024 |
United States |  | $ | 116,681 |  |  | $ | 122,506 |
China |  |  | 56,715 |  |  |  | 54,918 |
Europe |  |  | 31,012 |  |  |  | 34,300 |
Asia Pacific |  |  | 3,505 |  |  |  | 4,140 |
Other |  |  | 89 |  |  |  | 164 |
Total long-lived assets, net |  | $ | 208,002 |  |  | $ | 216,028 |
Significant Customers There were no customers that accounted for more than 10% of the Company's consolidated revenue for fiscal years 2025, 2024, and 2023. As of September 30, 2025, 2024 and 2023 there were no customers that accounted for 10% or more of the Company’s accounts receivable balance.

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- 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/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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