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DIVESTITURES | 12 Months Ended
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Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract] |
DIVESTITURES | NOTE 3 - DIVESTITURES Oqton and 3DXpert In September 2025, the Company entered into a definitive agreement for the sale of its 3DXpert and Oqton businesses to Hubb Global Holdings, LLC. On October 31, 2025, the Company completed the sale of the 3DXpert and Oqton businesses for $3.3 million in cash, which reflected applicable purchase price adjustments, plus a revenue-based royalty receivable which had a present value of $7.1 million as of the divestiture date. The revenue-based royalty receivable, net is included within Other assets on the consolidated balance sheet and payment is expected to be received in installments between 2027 and 2031, with payment amounts varying based on revenue earned. The annual effective interest rate used to calculate the present value of the guaranteed royalty consideration is 6.0%. The gross and net carrying values of the revenue-based royalty receivable are summarized below.
(in thousands) | December 31, 2025
Revenue-based royalty receivable, gross | $ | 9,900 |
Discount on revenue-based royalty receivable | (2,850) |
Revenue-based royalty receivable, net | $ | 7,050 |
3DXpert and Oqton are included in our Industrial Solutions segment. The Company recorded a pre-tax gain of $13.9 million from the sale of 3DXpert and Oqton in the year ended December 31, 2025. No loss was recognized to measure the disposal group at the lower of its carrying value or fair value less costs to sell. The disposal group has not been classified as a discontinued operation in the accompanying consolidated financial statements, as the sale of 3DXpert and Oqton does not constitute a strategic shift that would have a major effect on the Company’s operations. Geomagic In December 2024, the Company entered into a definitive agreement with Hexagon AB for the sale of its Geomagic software business ("Geomagic"), which was included in our Industrial Solutions segment. On April 1, 2025, the Company completed the sale of Geomagic and received $119.4 million in cash, which reflected applicable purchase price adjustments. The Company recorded a pre-tax gain of $125.7 million from the sale of Geomagic in the year ended December 31, 2025. No loss was recognized to measure the disposal group at the lower of its carrying value or fair value less costs to sell. The disposal group has not been presented as a discontinued operation in the accompanying consolidated financial statements because the sale of Geomagic does not represent a strategic shift that will have a major effect on the Company’s operations. The Company determined that the associated assets and liabilities met the held for sale criteria in December 2024. The following table summarizes the assets and liabilities of Geomagic:
(in thousands) | December 31, 2024
Assets |
Accounts receivable, net | $ | 765 |
Prepaid expenses and other current assets | 47 |
Total current assets held for sale | 812 |
Intangible assets, net | 917 |
Other assets | 1,447 |
Total assets held for sale | $ | 3,176 |
Liabilities |
Current operating lease liabilities |
Accounts payable | $ | 491 |
Accrued and other liabilities | 303 |
Deferred revenue | 7,197 |
Total current liabilities held for sale | 7,991 |
Other liabilities | 2,260 |
Total liabilities held for sale | $ | 10,251 |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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