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v3.25.1

Segment Reporting (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting |
Schedule of information about segments | Information about our segments is as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, 2025 | ​ | Three Months Ended March 31, 2024 | ​ | ​
​ |  | Life Sciences Services |  | Life Sciences Products |  | Total |  | Life Sciences Services |  | Life Sciences Products |  | Total | ​ |
Revenue from external customers 1 | ​ | $ | 23,213 | ​ | $ | 17,827 | ​ | $ | 41,040 | ​ | $ | 19,874 | ​ | $ | 17,417 | ​ | $ | 37,291 | ​ | ​
Intersegment revenue | ​ |  | 245 | ​ |  | 150 | ​ |  | 395 | ​ |  | 83 | ​ |  | 174 | ​ |  | 257 | ​ | ​
​ | ​ | ​ | 23,458 | ​ | ​ | 17,977 | ​ | ​ | 41,435 | ​ | ​ | 19,957 | ​ | ​ | 17,591 | ​ | ​ | 37,548 | ​ | ​
Reconciliation of revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Elimination of intersegment revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (395) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (257) | ​ | ​
Total consolidated revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 41,040 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 37,291 | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Less: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of revenue 1, 2 | ​ | ​ | 6,660 | ​ | ​ | 7,333 | ​ | ​ | ​ | ​ | ​ | 5,851 | ​ | ​ | 7,971 | ​ | ​ | ​ | ​ | ​
Employee related expenses | ​ | ​ | 13,051 | ​ | ​ | 5,435 | ​ | ​ | ​ | ​ | ​ | 12,558 | ​ | ​ | 5,488 | ​ | ​ | ​ | ​ | ​
Engineering and development expense 3 | ​ | ​ | 983 | ​ | ​ | 412 | ​ | ​ | ​ | ​ | ​ | 1,468 | ​ | ​ | 434 | ​ | ​ | ​ | ​ | ​
Rent | ​ | ​ | 1,803 | ​ | ​ | 187 | ​ | ​ | ​ | ​ | ​ | 1,337 | ​ | ​ | 190 | ​ | ​ | ​ | ​ | ​
Other segment items 4 | ​ | ​ | 3,445 | ​ | ​ | 1,100 | ​ | ​ | ​ | ​ | ​ | 3,683 | ​ | ​ | 1,385 | ​ | ​ | ​ | ​ | ​
Adjusted EBITDA for reportable segments | ​ | $ | (2,484) | ​ | $ | 3,510 | ​ | $ | 1,026 | ​ | $ | (4,940) | ​ | $ | 2,123 | ​ | $ | (2,817) | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate overhead costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (3,845) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (3,840) | ​ | ​
Depreciation and amortization expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (6,134) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (5,747) | ​ | ​
Acquisition and integration costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (1) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (60) | ​ | ​
Divestiture costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (2,290) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | - | ​ | ​
Cost reduction initiatives | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (216) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | - | ​ | ​
Investment income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1,573 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2,600 | ​ | ​
Unrealized (gain)/loss on investments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (193) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1,737 | ​ | ​
Foreign currency (gain)/loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (245) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (563) | ​ | ​
Interest expense, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (583) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (1,275) | ​ | ​
Change in fair value of contingent consideration | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 5,178 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (293) | ​ | ​
Stock-based compensation expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (3,064) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (4,666) | ​ | ​
Income taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (234) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (111) | ​ | ​
Loss from continuing operations | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (9,028) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (15,035) | ​ | ​
​ (1) Life Sciences Services segment includes immaterial revenue from external customers and cost of revenue associated with life sciences products revenue and cost of products revenue, respectively. (2) Cost of revenue is exclusive of employee related expenses of $6.9 million and $6.7 million, depreciation and amortization of $2.0 million and $1.9 million, stock-based compensation of $0.6 million and $0.7 million, and rent of $0.8 million and $0.6 million for the three months ended March 31, 2025 and 2024, respectively. (3) Engineering and development expense is exclusive of employee related expenses of $2.3 million and $2.3 million, stock-based compensation of $0.2 million and $0.4 million, and depreciation and amortization of $0.1 million and $0.1 million for the three months ended March 31, 2025 and 2024, respectively. (4) Other segment items primarily includes professional services, facility allocations, dues and subscriptions, audit fees, insurance, legal fees, and travel expense.

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