In the second quarter of fiscal year 2024, the Company launched initiatives designed to optimize resources for future growth and improve efficiency across its organization. The focus of the initiatives is to improve the Company’s profitability, which includes facilities consolidation, portfolio optimization, and organization structure simplification. The Company had additional restructuring actions during the three and six months ended March 31, 2026 under these initiatives and expects to complete the activities included in these initiatives by the end of fiscal year 2026. As of the date of issuance of the accompanying Condensed Consolidated Financial Statements, the Company has not identified restructuring actions related to these initiatives that will result in additional material charges. The Company expects to identify additional actions as it further refines its plan, and impact of the related initiatives will be recorded in future periods when specified criteria are met, including but not limited to, communication of benefit arrangements or when the costs have been incurred.

The majority of the restructuring expenses associated with the initiatives described above for the three and six months ended March 31, 2026 are severance costs. Of the total restructuring expenses for the three months ended March 31, 2026, $0.1 million related to the SMS segment and $1.3 million related to the Multiomics segment. Of the total restructuring expenses for the six months ended March 31, 2026, $1.3 million related to the SMS segment and $1.3 million related to the Multiomics segment.

The majority of restructuring expenses associated with the initiatives described above for the three and six months ended March 31, 2025 are severance and other related costs. Of the total restructuring expenses for the three months ended March 31, 2025, $1.4 million related to the SMS segment, $1.5 million related to the Multiomics segment, and $0.7 million related to Corporate. Of the total restructuring expenses for the six months ended March 31, 2025, $1.6 million related to the SMS segment, $1.6 million related to the Multiomics segment, and $0.8 million related to Corporate.