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Note 2 - Significant Transactions | 9 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Significant Transactions [Text Block] | Note 2. Significant Transactions GKE - Fiscal Year 2024 Acquisition We acquired 100% of the outstanding shares of GKE GmbH and SAL GmbH effective October 16, 2023, and upon approval by applicable Chinese regulators, effective December 31, 2023, we acquired 100% of the outstanding shares of Beijing GKE Science & Technology Co. Ltd. (“GKE China” and together with GKE GmbH and SAL GmbH, “GKE” or the "GKE acquisition"). GKE develops, manufactures and sells a portfolio of chemical sterilization indicators, biologics, and process challenge devices to protect patient safety across global healthcare markets. GKE is included in our Sterilization and Disinfection Control ("SDC") division, and GKE's strengths in chemical indictors are complementary to SDC's strengths in biological indicators as chemical and biological indicators are used in the same sterility validation workflows. Additionally, GKE’s healthcare-focused commercial capabilities in Europe and Asia greatly expand our reach in the healthcare markets in those geographies. We are working to obtain regulatory 510(k) clearance on certain GKE products for sale in the United States, which would further expand organic revenues growth opportunities from the GKE business. We finalized our purchase price accounting of GKE during fiscal year 2024. Total cash consideration for the GKE acquisition was $87,187, net of cash and financial liabilities acquired and inclusive of working capital adjustments. Of the total acquisition price, approximately $9,000 (at December 31, 2024 exchange rates) is being held back until April 2025 in accordance with the purchase agreement as security against potential indemnification losses ("GKE holdback"). We funded the acquisition through a combination of cash on-hand and a total of $71,000 borrowed under our line of credit. During the three and nine months ended December 31, 2024, GKE's operations contributed the following amounts to our consolidated results of operations:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | December 31, 2024 |
Revenues |  | $ | 6,854 |  |  | $ | 18,971 |
Gross profit |  |  | 4,904 |  |  |  | 12,457 |
Amortization of inventory step-up recorded in cost of revenues |  |  | - |  |  |  | 1,232 |
Amortization of acquired intangibles recorded in cost of revenues |  |  | 131 |  |  |  | 375 |
Amortization of acquired intangibles recorded in general and administrative expense |  |  | 935 |  |  |  | 2,423 |

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