| Schedule of assets, liabilities, and gain on disposal of the discontinued operations |
The following table presents the gain on the sale of the Desktop Portfolio as of March 31, 2025, pursuant to the Securities and Asset Purchase Agreement by and between the Company and Repligen, dated as of the Closing Date (the “Repligen Purchase Agreement”) (in thousands): | | | | | Consideration received | | | | | Payment for fair value transferred for Desktop Portfolio(1)(2) | | $ | 69,917 | | | | | | | Net assets transferred | | | | | Cash | | $ | 189 | | Accounts receivable | | | 1,065 | | Inventory | | | 5,418 | | Prepaid expenses and other current assets | | | 284 | | Property and equipment, net | | | 1,668 | | Operating lease right-of-use assets | | | 2,983 | | Intangible assets and other long-term assets | | | 6,489 | | Accounts payable | | | (208) | | Accrued expenses and other current liabilities | | | (552) | | Deferred revenue | | | (2,362) | | Operating lease liabilities | | | (2,471) | | Deferred income taxes | | | (2,034) | | Net assets transferred | | $ | 10,469 | | | | | | | Transaction costs | | $ | (3,975) | | Release of cumulative translation adjustment under 908 Devices GmbH | | | 1,125 | | Gain on sale, pre-tax | | $ | 56,598 | | Income tax | | | — | | Gain on sale, net of tax | | $ | 56,598 | |
| (1) | The Cash payment consists of $70.0 million, less fees and other working capital adjustments of $83,296. |
| (2) | The Cash payment also consists of $3.5 million to be held in escrow for a period of 15 months after the Closing Date, as a source of recovery for possible indemnification claims by Repligen, and $0.5 million to be held in escrow until the final determination of the purchase price, as a source of recovery for any negative net working capital adjustment to the purchase price. |
For the three months ended March 31, 2026 and 2025, the Company recognized no gain and a $56.6 million gain, net of tax, respectively, within net income from discontinued operations on the Company’s condensed consolidated statements of operations. The following table presents the financial results of the discontinued operations prior to the sale of the Desktop Portfolio (in thousands): | | | | | | | | Three Months Ended March 31, | | | | | 2025 | | | Revenue: | | | | | | Product revenue | | $ | 612 | | | Service and contract revenue | | | 464 | | | Total revenue | | | 1,076 | | | Cost of revenue: | | | | | | Product cost of revenue | | | 571 | | | Service and contract cost of revenue | | | 340 | | | Total cost of revenue | | | 911 | | | Gross profit | | | 165 | | | Operating expenses: | | | | | | Research and development | | | 1,576 | | | Selling, general and administrative | | | 1,668 | | | Total operating expenses | | | 3,244 | | | Other income (expense), net: | | | | | | Gain on divesture | | | 56,598 | | | Other expense, net: | | | (95) | | | Total other income, net: | | | 56,503 | | | Income from discontinued operations before income taxes | | $ | 53,424 | | | Provision for income taxes | | | 16 | | | Net income from discontinued operations, net of tax | | $ | 53,440 | | |
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