XML 50 R39.htm IDEA: XBRL DOCUMENT

Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting

Schedule of information about segments

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



		Three Months Ended September 30, 2025									Three Months Ended September 30, 2024									Nine Months Ended September 30, 2025									Nine Months Ended September 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		$	25,497		$	18,736		$	44,233		$	21,301		$	17,016		$	38,317		$	74,528		$	56,199		$	130,727		$	62,742		$	52,575		$	115,317
Intersegment revenue			230			86			316			207			55			262			679			593			1,272			472			420			892
			25,727			18,822			44,549			21,508			17,071			38,579			75,207			56,792			131,999			63,214			52,995			116,209
Reconciliation of revenue
Elimination of intersegment revenue									(316)									(262)									(1,272)									(892)
Total consolidated revenue									44,233									38,317									130,727									115,317

Less:
Cost of revenue ^1, ^{2, 3}			7,014			7,227						5,938			6,902						20,854			22,694						18,561			22,828
Employee related expenses			13,209			5,714						11,764			5,586						39,386			16,776						36,839			15,938
Engineering and development expense ^{4, 5}			793			766						1,145			511						2,706			1,735						4,008			1,543
Rent			1,977			192						1,116			199						5,674			565						3,730			587
Other segment items ⁶			1,134			1,421						3,098			1,047						7,525			3,999						10,590			3,636
Adjusted EBITDA for reportable segments		$	1,600		$	3,502		$	5,102		$	(1,553)		$	2,826		$	1,273		$	(938)		$	11,023		$	10,085		$	(10,514)		$	8,463		$	(2,051)

Corporate overhead costs									(5,751)									(3,971)									(14,467)									(12,864)
Depreciation and amortization expense									(6,415)									(6,041)									(18,798)									(17,573)
Acquisition and integration costs									(38)									(118)									(69)									(652)
Cost reduction initiatives									(160)									(397)									(642)									(532)
Investment income									3,402									3,059									6,441									8,468
Unrealized (gain)/loss on investments									655									(3,535)									(620)									(2,593)
Foreign currency (gain)/loss									(274)									1,621									(2,521)									778
Interest expense, net									(526)									(882)									(1,727)									(3,398)
Gain on extinguishment of debt, net									-									17,326									-									18,505
Impairment loss									-									-									-									(63,809)
Change in fair value of contingent consideration									-									(43)									5,178									1,602
Stock-based compensation expense									(2,526)									(4,056)									(7,635)									(12,923)
Income taxes									(165)									(316)									(673)									(493)
Income (loss) from continuing operations								$	(6,696)								$	3,920								$	(25,448)								$	(87,535)

(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 $5.9 million and $5.3 million, depreciation and amortization of $2.1 million and $1.9 million, stock-based compensation of $0.4 million and $0.6 million, and rent of $0.5 million and $0.5 million for the three months ended September 30, 2025 and 2024, respectively.

(3) Cost of revenue is exclusive of employee related expenses of $19.7 million and $18.3 million, depreciation and amortization of $6.2 million and $5.6 million, stock-based compensation of $1.5 million and $2.0 million, and rent of $2.0 million and $1.7 million for the nine months ended September 30, 2025 and 2024, respectively.

(4) Engineering and development expense is exclusive of employee related expenses of $2.7 million and $2.1 million, stock-based compensation of $0.2 million and $0.3 million, and depreciation and amortization of $0.1 million and $0.1 million for the three months ended September 30, 2025 and 2024, respectively.

(5) Engineering and development expense is exclusive of employee related expenses of $7.4 million and $6.6 million, depreciation and amortization of $0.3 million and $0.3 million, and stock-based compensation of $0.6 million and $1.1 million for the nine months ended September 30, 2025 and 2024, respectively.

(6) Other segment items primarily includes professional services, facility allocations, dues and subscriptions, audit fees, insurance, legal fees, and travel expense.