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Note 8 - Goodwill and Intangible Assets | 12 Months Ended
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Sep. 30, 2025
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | 8. Goodwill and Intangible Assets Changes to the Company’s operating segments effective October 1, 2023 resulted in a change to the Company’s reporting units, which are aligned to the Company’s operating and reportable segments (as further described in Note 18, Segment and Geographic Information below). As a result of this segment realignment, the Company allocated goodwill to the reporting units existing under the new organizational structure on a relative fair value basis as of October 1, 2023. The Company estimated the fair values of the affected businesses based upon the present value of their anticipated future cash flows. The Company's determination of fair value involved judgment and the use of significant estimates and assumptions. The Company tested its reporting units for potential impairment immediately before and after the segment realignment and concluded that the estimated fair value of each reporting unit exceeded its respective carrying value as of October 1, 2023. The Company conducts an impairment assessment annually on April 1, or more frequently if impairment indicators are present. The Company determined that a sustained decline in its stock price was an indicator of potential impairment and performed an interim quantitative goodwill impairment test for its reporting units as of June 30, 2025. The Company concluded that there was no impairment to goodwill for its Sample Management Solutions and Multiomics reporting units as of June 30, 2025. Based on the results of the interim quantitative impairment test performed as of June 30, 2025, the fair values of the Sample Management Solutions and Multiomics reporting units exceeded their respective carrying amounts. The Company concluded that there was no impairment to goodwill for the Sample Management Solutions and Multiomics reporting units as of June 30, 2025. The estimated fair value of each of the reporting units was derived based on the income approach and the market approach which were weighed at 75% and 25%, respectively, as of June 30, 2025. The DCF Method was used in the income approach which reflected the Company’s assumptions regarding revenue growth rates, forecasted gross profit margins, research and development expenses, selling, general and administrative expenses, capital expenditures, discount rates, terminal period growth rates, economic and market trends, and other expectations about the anticipated operating results of the Sample Management Solutions and Multiomics reporting units. The guideline company method was used in the market approach and publicly traded companies in similar lines of business were identified and used in an analysis to estimate the fair value. The Company qualitatively evaluated goodwill for impairment during the remainder of fiscal 2025 and determined that there were no events or circumstances during the period to indicate an additional quantitative goodwill impairment assessment was required. In the event the financial performance of any of the reporting units does not meet management’s expectations in the future, the Company experiences a prolonged macroeconomic downturn, or there are other negative revisions to key assumptions used in the DCF method and the guideline company method to value the reporting units, the Company may be required to perform additional impairment analyses with respect to such reporting units and could be required to recognize additional impairment charges. The following table sets forth the changes in the carrying amount of goodwill by reportable segment since September 30, 2023 (in thousands):
|  | Life Sciences Products |  |  | Life Sciences Services |  |  | Sample Management Solutions |  |  | Multiomics |  |  | Total |
Balance - September 30, 2023 |  | $ | 316,326 |  |  | $ | 359,035 |  |  | $ | — |  |  | $ | — |  |  | $ | 675,361 |
Segment recast (1) |  | $ | (316,326 | ) |  | $ | (359,035 | ) |  | $ | 478,601 |  |  | $ | 196,760 |  |  | $ | — |
Currency translation adjustments |  |  | — |  |  |  | — |  |  |  | 16,048 |  |  |  | — |  |  |  | 16,048 |
Balance - September 30, 2024 |  | $ | — |  |  | $ | — |  |  | $ | 494,649 |  |  | $ | 196,760 |  |  | $ | 691,409 |
Currency translation adjustments |  |  | — |  |  |  | — |  |  |  | 10,986 |  |  |  | — |  |  |  | 10,986 |
Balance - September 30, 2025 |  | $ | — |  |  | $ | — |  |  | $ | 505,635 |  |  | $ | 196,760 |  |  | $ | 702,395 |
Accumulated goodwill impairments, September 30, 2025 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
(1) Changes to the Company’s operating segments effective October 1, 2023 resulted in a change to the Company’s reporting units. As a result of this segment realignment, the Company allocated goodwill to the reporting units existing under the new organizational structure on a relative fair value basis as of October 1, 2023. The components of the Company’s identifiable intangible assets as of September 30, 2025 and 2024 are as follows (in thousands):
|  | September 30, 2025 |  |  | September 30, 2024 |
|  |  |  |  |  | Accumulated |  |  | Net Book |  |  |  |  |  |  | Accumulated |  |  | Net Book |
|  | Cost |  |  | Amortization |  |  | Value |  |  | Cost |  |  | Amortization |  |  | Value |
Patents |  | $ | 1,220 |  |  | $ | 1,220 |  |  | $ | — |  |  | $ | 1,227 |  |  | $ | 1,227 |  |  | $ | — |
Completed technology |  |  | 111,501 |  |  |  | 63,408 |  |  |  | 48,093 |  |  |  | 109,949 |  |  |  | 55,191 |  |  |  | 54,758 |
Trademarks and trade names |  |  | 727 |  |  |  | 293 |  |  |  | 434 |  |  |  | 726 |  |  |  | 195 |  |  |  | 531 |
Customer relationships |  |  | 248,846 |  |  |  | 195,559 |  |  |  | 53,287 |  |  |  | 248,036 |  |  |  | 178,283 |  |  |  | 69,753 |
Total |  | $ | 362,294 |  |  | $ | 260,480 |  |  | $ | 101,814 |  |  | $ | 359,938 |  |  | $ | 234,896 |  |  | $ | 125,042 |
For further details regarding the goodwill and intangible assets obtained from acquisitions, please refer to Note 4, Business Combinations. During the second quarter of fiscal year 2024, the Company discontinued its sample sourcing product offering (a product line within the Sample Management Solutions segment). As a result, the Company recorded a $4.7 million impairment of intangible assets related to the sample sourcing business within “Impairment of goodwill and intangible assets” in its Consolidated Statements of Operations during the fiscal year ended September 30, 2024. Amortization expense for intangible assets was $24.4 million, $28.6 million, and $32.1 million, respectively, for the fiscal years ended September 30, 2025, 2024 and 2023. Estimated future amortization expense for the intangible assets as of September 30, 2025 is as follows for the subsequent five fiscal years and thereafter (in thousands):
2026 |  | $ | 22,286 |
2027 |  |  | 17,861 |
2028 |  |  | 14,994 |
2029 |  |  | 12,379 |
2030 |  |  | 10,806 |
Thereafter |  |  | 23,488 |
Total |  | $ | 101,814 |

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