Segment Information (Tables)

6 Months Ended

Jun. 30, 2025


Three Months Ended June 30, 2025
In thousands	Device Solutions		Networked Solutions		Outcomes		Segments Subtotal		Corporate Unallocated		Consolidated
Product revenues	$	111,939	$	379,481	$	25,764	$	517,184
Service revenues	821		29,453		59,303		89,577
Total revenues	112,760		408,934		85,067		606,761
Cost of revenues	79,169		251,691		52,283		383,143
Gross profit	33,591		157,243		32,784		223,618
Sales, general and administrative	3,628		7,477		4,636		15,741
Research and development	4,509		28,767		12,461		45,737
Corporate unallocated expenses	—		—		—		—		85,727
Total other income (expense)	—		—		—		—		7,069
Income before income taxes	$	25,454	$	120,999	$	15,687	$	162,140	$	(78,658)	$	83,482

Six Months Ended June 30, 2025
In thousands	Device Solutions		Networked Solutions		Outcomes		Segments Subtotal		Corporate Unallocated		Consolidated
Product revenues	$	237,326	$	754,003	$	48,996	$	1,040,325
Service revenues	1,305		57,663		114,619		173,587
Total revenues	238,631		811,666		163,615		1,213,912
Cost of revenues	167,287		505,709		100,079		773,075
Gross profit	71,344		305,957		63,536		440,837
Sales, general and administrative	6,956		14,157		8,713		29,826
Research and development	8,463		54,692		24,806		87,961
Corporate unallocated expenses	—		—		—		—		170,424
Total other income (expense)	—		—		—		—		13,135
Income before income taxes	$	55,925	$	237,108	$	30,017	$	323,050	$	(157,289)	$	165,761


Three Months Ended June 30, 2024
In thousands	Device Solutions		Networked Solutions		Outcomes		Segments Subtotal		Corporate Unallocated		Consolidated
Product revenues	$	117,929	$	387,351	$	27,627	$	532,907
Service revenues	621		25,353		50,188		76,162
Total revenues	118,550		412,704		77,815		609,069
Cost of revenues	87,319		260,547		50,743		398,609
Gross profit	31,231		152,157		27,072		210,460
Sales, general and administrative	3,328		7,031		3,819		14,178
Research and development	4,178		27,682		12,602		44,462
Corporate unallocated expenses	—		—		—		—		87,173
Total other income (expense)	—		—		—		—		2,393
Income before income taxes	$	23,725	$	117,444	$	10,651	$	151,820	$	(84,780)	$	67,040

Six Months Ended June 30, 2024
In thousands	Device Solutions		Networked Solutions		Outcomes		Segments Subtotal		Corporate Unallocated		Consolidated
Product revenues	$	243,837	$	768,656	$	48,236	$	1,060,729
Service revenues	1,465		51,564		98,753		151,782
Total revenues	245,302		820,220		146,989		1,212,511
Cost of revenues	184,007		517,038		95,627		796,672
Gross profit	61,295		303,182		51,362		415,839
Sales, general and administrative	7,109		13,530		7,846		28,485
Research and development	8,758		55,530		23,774		88,062
Corporate unallocated expenses	—		—		—		—		171,845
Total other income (expense)	—		—		—		—		4,809
Income before income taxes	$	45,428	$	234,122	$	19,742	$	299,292	$	(167,036)	$	132,256

Revenues by region were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
In thousands	2025		2024		2025		2024
United States and Canada	$	500,535	$	498,388	$	986,747	$	980,484
Europe, Middle East, and Africa	78,579		86,781		174,905		185,437
Asia Pacific	27,647		23,900		52,260		46,590
Total Company	$	606,761	$	609,069	$	1,213,912	$	1,212,511

Depreciation and amortization of intangible assets expense associated with our operating segments was as follows: