Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting

Schedule of information about segments

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



		Three Months Ended March 31, 2025									Three Months Ended March 31, 2024
		Life Sciences Services			Life Sciences Products			Total			Life Sciences Services			Life Sciences Products			Total
Revenue from external customers ¹		$	23,213		$	17,827		$	41,040		$	19,874		$	17,417		$	37,291
Intersegment revenue			245			150			395			83			174			257
			23,458			17,977			41,435			19,957			17,591			37,548
Reconciliation of revenue
Elimination of intersegment revenue									(395)									(257)
Total consolidated revenue									41,040									37,291

Less:
Cost of revenue ^1, ²			6,660			7,333						5,851			7,971
Employee related expenses			13,051			5,435						12,558			5,488
Engineering and development expense ³			983			412						1,468			434
Rent			1,803			187						1,337			190
Other segment items ⁴			3,445			1,100						3,683			1,385
Adjusted EBITDA for reportable segments		$	(2,484)		$	3,510		$	1,026		$	(4,940)		$	2,123		$	(2,817)

Corporate overhead costs									(3,845)									(3,840)
Depreciation and amortization expense									(6,134)									(5,747)
Acquisition and integration costs									(1)									(60)
Divestiture costs									(2,290)									-
Cost reduction initiatives									(216)									-
Investment income									1,573									2,600
Unrealized (gain)/loss on investments									(193)									1,737
Foreign currency (gain)/loss									(245)									(563)
Interest expense, net									(583)									(1,275)
Change in fair value of contingent consideration									5,178									(293)
Stock-based compensation expense									(3,064)									(4,666)
Income taxes									(234)									(111)
Loss from continuing operations								$	(9,028)								$	(15,035)

(1) Life Sciences Services segment includes immaterial revenue from external customers and cost of revenue associated with 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 $6.7 million, depreciation and amortization of $2.0 million and $1.9 million, stock-based compensation of $0.6 million and $0.7 million, and rent of $0.8 million and $0.6 million for the three months ended March 31, 2025 and 2024, respectively.

(3) Engineering and development expense is exclusive of employee related expenses of $2.3 million and $2.3 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 March 31, 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.