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SEGMENT INFORMATION | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
SEGMENT INFORMATION | NOTE 11 - SEGMENT INFORMATION Our chief operating decision maker ("CODM"), who is our President and Chief Executive Officer, is responsible for reviewing segment performance and making decisions regarding resource allocation. Our CODM regularly reviews the results of our business through two reportable segments: Healthcare Solutions and Industrial Solutions, which are based on the industry verticals they serve. For Healthcare S olutions, those industry verticals include dental, medical devices, personalized health services and regenerative medicine. For Industrial S olutions, those industry verticals include aerospace, defense, transportation and general manufacturing. The CODM evaluates each segment’s performance based on gross profit, which is also utilized in the annual budgeting and forecasting processes, as well as in quarterly reviews of budget-to-actual results and period-over-period variances. All internal segment reporting and discussions with the CODM are now based on segment gross profit. Prior period segment results have been revised to conform with current period presentation. The CODM does not review disaggregated asset information on the basis of the Company's segments; therefore, such information is not presented. Revenue, cost of sales and gross profit for each of our reportable segments were as follows:
| Three Months Ended |  | Six Months Ended
(in thousands) | June 30, 2025 |  | June 30, 2024 |  | June 30, 2025 |  | June 30, 2024
Revenue: |  |  |  |  |  |  |
Healthcare Solutions | $ | 45,020 |  |  | $ | 48,900 |  |  | $ | 86,336 |  |  | $ | 94,313 |
Industrial Solutions | 49,818 |  |  | 64,352 |  |  | 103,042 |  |  | 121,844 |
Total revenue | 94,838 |  |  | 113,252 |  |  | 189,378 |  |  | 216,157 |
Cost of sales: |  |  |  |  |  |  |
Healthcare Solutions | 24,638 |  |  | 26,465 |  |  | 49,930 |  |  | 54,896 |
Industrial Solutions | 34,050 |  |  | 39,689 |  |  | 70,609 |  |  | 73,241 |
Total cost of sales | 58,688 |  |  | 66,154 |  |  | 120,539 |  |  | 128,137 |
Gross profit: |  |  |  |  |  |  |
Healthcare Solutions | 20,382 |  |  | 22,435 |  |  | 36,406 |  |  | 39,417 |
Industrial Solutions | 15,768 |  |  | 24,663 |  |  | 32,433 |  |  | 48,603 |
Total gross profit | 36,150 |  |  | 47,098 |  |  | 68,839 |  |  | 88,020 |
Selling, general and administrative | 34,139 |  |  | 51,494 |  |  | 83,908 |  |  | 108,798 |
Research and development | 17,361 |  |  | 22,016 |  |  | 37,044 |  |  | 45,496 |
Foreign exchange gain (loss), net | (1,591) |  |  | (723) |  |  | (452) |  |  | 1,186 |
Interest income | 1,717 |  |  | 1,452 |  |  | 2,670 |  |  | 4,250 |
Interest expense | (697) |  |  | (624) |  |  | (1,278) |  |  | (1,338) |
Gain on disposition | 125,681 |  |  | — |  |  | 125,681 |  |  | — |
Other income, net | 7,020 |  |  | 384 |  |  | 6,860 |  |  | 21,770 |
Net income (loss) before income taxes | $ | 116,780 |  |  | $ | (25,923) |  |  | $ | 81,368 |  |  | $ | (40,406) |
Depreciation and amortization included in the measurement of gross profit by segment were as follows:
| Three Months Ended |  | Six Months Ended
(in thousands) | June 30, 2025 |  | June 30, 2024 |  | June 30, 2025 |  | June 30, 2024
Depreciation and amortization: |  |  |  |  |  |  |
Healthcare Solutions | $ | 1,201 |  |  | $ | 1,365 |  |  | $ | 2,685 |  |  | $ | 2,720 |
Industrial Solutions | $ | 671 |  |  | $ | 782 |  |  | $ | 1,293 |  |  | $ | 1,531 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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