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Business Restructuring Charges

9 Months Ended

Jun. 30, 2025

Restructuring and Related Activities [Abstract]

Business Restructuring Charges

Note 4 — Business Restructuring Charges

On November 22, 2024, the Company’s Board of Directors approved a plan to discontinue internal and external investment in the research and development of the Company's patch pump program. As a result, the Company incurred organizational restructuring plan (the "Patch Pump Restructuring Plan") costs of $34.3 million during the nine months ended June 30, 2025. This Patch Pump Restructuring Plan is substantially complete as of June 30, 2025. The Company plans to refocus its investment on its core business while looking to optimize free cash flow and strengthen its balance sheet by paying down debt.

During the second quarter of fiscal year 2025, the Company initiated a restructuring plan (the "2025 Restructuring Plan") to streamline the organization and optimize resources. As a result, the Company incurred organizational restructuring plan costs of $3.5 million during the nine months ended June 30, 2025. The 2025 Restructuring Plan is substantially complete as of June 30, 2025.

The following table summarizes the charges related to the restructuring programs by type of cost for the periods ended:

			Three months ended June 30, 2025																		Nine months ended June 30, 2025
			Employee Termination						Non-Employee Related						Total						Employee Termination						Non-Employee Related						Total
Cost of products sold			$	0.1					$	0.2					$	0.3					$	0.4					$	6.3					$	6.7
Selling and administrative expense			—						—						—						0.6						—						0.6
Research and development expense			0.2						0.4						0.6						6.8						4.7						11.5
Other operating expenses			(0.2)						0.3						0.1						14.0						5.0						19.0
			$	0.1					$	0.9					$	1.0					$	21.8					$	16.0					$	37.8

Employee termination costs are associated with actual headcount reductions, including involuntary headcount reductions which were probable and could be reasonably estimated.

Non-employee related costs are associated with termination of contracts and long-lived asset impairments are discussed further in Note 16 and Note 17.

The following table summarizes the charges and spending relating to restructuring program activities for the nine months ended June 30, 2025:

			Employee Termination						Non-Employee Related						Total
Balance at September 30, 2024			$	—					$	—					$	—
Charged to expense			21.8						16.0						37.8
Cash payments			(17.5)						(4.0)						(21.5)
Non-cash adjustments			(3.1)						(10.6)						(13.7)
Balance at June 30, 2025 (a)			$	1.2					$	1.4					$	2.6

(a) As of June 30, 2025, $1.2 million is recorded in Salaries, wages and related items and $1.4 million is recorded in Accrued expenses.

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The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4.e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

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