XML 45 R39.htm IDEA: XBRL DOCUMENT v3.26.1
Goodwill and Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Carrying Amounts of Goodwill

The changes in the carrying amounts of goodwill for the laboratory services segment and the therapeutic development segment in the six months ended June 30, 2026 were as follows:

 

Laboratory Services

 

 

Therapeutic Development

 

 

(in thousands)

 

Balance at December 31, 2025

$

—

 

 

$

25,080

 

Acquisition

 

31,379

 

 

 

—

 

Measurement period adjustment

 

130

 

 

 

(2,728

)

Balance at June 30, 2026

$

31,509

 

 

$

22,352

 
Summaries of Goodwill and Acquisitions-Related Intangibles Balances

Summaries of intangible assets balances as of June 30, 2026, and December 31, 2025, were as follows:

 

Weighted-Average Amortization Period

June 30, 2026

 

 

December 31, 2025

 

 

 

(in thousands)

 

Laboratory Services

 

 

 

 

 

 

Customer relationships

12 Years

$

105,170

 

 

$

83,135

 

Less: accumulated amortization

 

 

(29,439

)

 

 

(25,633

)

Customer relationships, net

 

 

75,731

 

 

 

57,502

 

 

 

 

 

 

 

 

Royalty-free technology

10 Years

 

5,453

 

 

 

5,291

 

Less: accumulated amortization

 

 

(2,818

)

 

 

(2,469

)

Royalty-free technology, net

 

 

2,635

 

 

 

2,822

 

 

 

 

 

 

 

 

Trade name

7 Years

 

4,490

 

 

 

3,790

 

Less: accumulated amortization

 

 

(2,201

)

 

 

(1,896

)

Trade name, net

 

 

2,289

 

 

 

1,894

 

 

 

 

 

 

 

 

Laboratory information system platform

5 Years

 

1,860

 

 

 

1,860

 

Less: accumulated amortization

 

 

(1,829

)

 

 

(1,643

)

Laboratory information system platform, net

 

 

31

 

 

 

217

 

 

 

 

 

 

 

 

In-place lease intangible assets

5 Years

 

360

 

 

 

360

 

Less: accumulated amortization

 

 

(290

)

 

 

(255

)

In-place lease intangible assets, net

 

 

70

 

 

 

105

 

 

 

 

 

 

 

 

Purchased patent

10 Years

 

29

 

 

 

29

 

Less: accumulated amortization

 

 

(16

)

 

 

(14

)

Purchased patent, net

 

 

13

 

 

 

15

 

Total

 

 

80,769

 

 

 

62,555

 

 

 

 

 

 

 

 

Therapeutic Development

 

 

 

 

 

 

Customer relationships

18 Years

 

2,300

 

 

 

2,300

 

Less: accumulated amortization

 

 

(128

)

 

 

(64

)

Less: accumulated impairment

 

 

(2,172

)

 

 

—

 

Customer relationships, net

 

 

—

 

 

 

2,236

 

 

 

 

 

 

 

 

In-process research & development

n/a

 

68,490

 

 

 

68,490

 

Total

 

 

68,490

 

 

 

70,726

 

Total intangible assets, net

 

$

149,259

 

 

$

133,281

 
Summary of Annual Amortization Expense For Acquisition-Related Intangibles

Based on the carrying value of intangible assets recorded as of June 30, 2026, and assuming no subsequent impairment of the underlying assets, the annual amortization expense for intangible assets is expected to be as follows:

 

Amounts

 

 

(in thousands)

 

Year ending December 31,

 

 

2026 (remaining 6 months)

$

4,949

 

2027

 

9,667

 

2028

 

9,633

 

2029

 

9,200

 

2030

 

9,014

 

2031

 

8,602

 

Thereafter

 

29,704

 

Total

$

80,769