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Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting

Schedule of information about segments

Information about our segments is as follows (in thousands):



		Three Months Ended June 30, 2025									Three Months Ended June 30, 2024									Six Months Ended June 30, 2025									Six Months Ended June 30, 2024
		Life Sciences Services			Life Sciences Products			Total			Life Sciences Services			Life Sciences Products			Total			Life Sciences Services			Life Sciences Products			Total			Life Sciences Services			Life Sciences Products			Total
Revenue from external customers ¹		$	25,818		$	19,636		$	45,454		$	21,567		$	18,142		$	39,709		$	49,031		$	37,463		$	86,494		$	41,441		$	35,559		$	77,000
Intersegment revenue			204			357			561			182			191			373			449		$	507			956			265			365			630
			26,022			19,993			46,015			21,749			18,333			40,082			49,480			37,970			87,450			41,706			35,924			77,630
Reconciliation of revenue
Elimination of intersegment revenue									(561)									(373)									(956)									(630)
Total consolidated revenue									45,454									39,709									86,494									77,000

Less:
Cost of revenue ^1, ²			7,180			8,134						6,772			7,955						13,840		$	15,467						12,623			15,926
Employee related expenses			13,126			5,627						12,517			4,864						26,177		$	11,062						25,075			10,352
Engineering and development expense ³			930			557						1,395			598						1,913		$	969						2,863			1,032
Rent			1,894			186						1,277			198						3,697		$	373						2,614			388
Other segment items ⁴			2,946			1,478						3,809			1,204						6,391		$	2,578						7,492			2,589
Adjusted EBITDA for reportable segments		$	(54)		$	4,011		$	3,957		$	(4,021)		$	3,514		$	(507)		$	(2,538)		$	7,521		$	4,983		$	(8,961)		$	5,637		$	(3,324)

Corporate overhead costs									(4,871)									(5,053)									(8,716)									(8,893)
Depreciation and amortization expense									(6,249)									(5,785)									(12,383)									(11,532)
Acquisition and integration costs									(30)									(474)									(31)									(534)
Cost reduction initiatives									(266)									(135)									(482)									(135)
Investment income									1,466									2,809									3,039									5,409
Unrealized (gain)/loss on investments									(1,082)									(795)									(1,275)									942
Foreign currency (gain)/loss									(2,002)									(280)									(2,247)									(843)
Interest expense, net									(618)									(1,241)									(1,201)									(2,516)
Gain on extinguishment of debt, net									-									1,179									-									1,179
Impairment loss									-									(63,809)									-									(63,809)
Change in fair value of contingent consideration									-									1,938									5,178									1,645
Stock-based compensation expense									(2,045)									(4,201)									(5,109)									(8,867)
Income taxes									(274)									(66)									(508)									(177)
Loss from continuing operations								$	(12,014)								$	(76,420)								$	(18,752)								$	(91,455)

(1) Life Sciences Services reportable segment includes sales of accessories to external customers and related cost of revenue included in 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 $6.3 million, depreciation and amortization of $2.1 million and $1.8 million, stock-based compensation of $0.5 million and $0.7 million, and rent of $0.7 million and $0.6 million for the three months ended June 30, 2025 and 2024, respectively.

(3) Engineering and development expense is exclusive of employee related expenses of $2.4 million and $2.2 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 June 30, 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.