v3.26.1
Goodwill and Intangible Assets
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
Note 4. Goodwill and Intangible Assets
Goodwill and Impairment
At March 31, 2026, the Company performed a qualitative interim impairment test as result of continued events and circumstances that indicated its goodwill could be impaired, including a larger than expected decline in the Company's revenue and bookings primarily due to the changing macro-economic conditions resulting from reductions in U.S. federal research funding and import tariffs. This test was performed on its Akoya reporting unit since all remaining goodwill had previously been assigned to it. As a result of the qualitative test, the Company determined that its goodwill was not impaired as of March 31, 2026.
Changes in the carrying amount of goodwill were as follows (in thousands):
Total Goodwill
Balance as of January 1, 2025
$— 
Acquisition of Emission6,374 
Goodwill impairment(6,374)
Acquisition of Akoya, including measurement period adjustments26,376 
Balance as of December 31, 202526,376 
Measurement period adjustments to Akoya goodwill334 
Balance as of March 31, 2026$26,710 
Intangible Assets
Acquired intangible assets consisted of the following (in thousands, except useful life and weighted average life amounts):
As of March 31, 2026
Estimated
Useful
Life (in years)		Gross Carrying
Value		Accumulated
Amortization		Cumulative
Translation
Adjustment		Net Carrying
Value		Weighted Average
Life Remaining (in years)
Developed technology
7.0 - 14.0
$114,150 $(10,368)$— $103,782 9.3
Know-how8.513,000 (8,834)(1,540)2,626 1.8
Customer relationships
8.5 - 10.0
4,260 (1,503)(4)2,753 8.3
Total$131,410 $(20,704)$(1,544)$109,161 
As of December 31, 2025
Estimated
Useful
Life (in years)		Gross Carrying
Value		Accumulated
Amortization		Cumulative
Translation
Adjustment		Net Carrying
Value		Weighted Average
Life Remaining (in years)
Definite-lived intangible assets:
Developed technology
7.0 - 14.0
$114,150 $(7,596)$— $106,554 9.8
Know-how8.513,000 (8,445)(1,470)3,085 2.3
Customer relationships
8.5 - 10.0
4,260 (1,408)(4)2,848 8.7
Total$131,410 $(17,449)$(1,474)$112,487 
Indefinite-lived intangible assets:
In-process research and development (1)$19,300 $— $— $19,300 
Total intangible assets$150,710 $(17,449)$(1,474)$131,787 
(1) Refer to Note 3 - Acquisitions for discussion on the IPR&D impairment during the three months ended March 31, 2026.
The Company recorded amortization expense of $3.3 million and $0.6 million for the three months ended March 31, 2026 and 2025, respectively.
Future estimated amortization expense is as follows (in thousands):
As of March 31, 2026
2026$9,975 
202713,193 
202811,686 
202911,656 
203011,656 
Thereafter50,995 
Total amortization expense$109,161