On April 21, 2026, the Company entered into a Purchase Agreement (the "Purchase Agreement") with Veristat, LLC to sell the Regulatory and Medical Writing business. The sale is part of management's strategy to simplify the Company's portfolio and focus on its core businesses. On May 8, 2026, the Company completed the sale of the Regulatory and Medical Writing business. The Company received cash consideration of $69,435, with an additional $15,000 placed in escrow to be released to the Company upon the satisfaction of certain post-closing conditions. In addition, the Company is eligible to receive an earn-out payment of up to $35,000 based on the financial performance (as defined in the Purchase Agreement) of such business over a specified period following closing. The transaction resulted in an estimated pretax loss on sale of $65,481, including an estimated after-tax loss of $48,576, which was recorded in loss from discontinued operations in the condensed consolidated statement of operations for the three and six months ended June 30, 2026. The final loss recognized may differ from the amount currently recognized due to the final escrow amount realized and the ultimate settlement of the earn-out.

During the second quarter of 2026, the Company determined that the Regulatory and Medical Writing business met the accounting criteria to be classified as held for sale and discontinued operations. Accordingly, the Company has presented the results of operations and the related cash flows of the Regulatory and Medical Writing business as discontinued operations in the condensed consolidated financial statements through the date of sale. This presentation has been applied retrospectively to all periods presented. The Company’s presentation of discontinued operations excludes general corporate overhead costs that did not meet the requirements to be presented as discontinued operations.

In connection with the transaction, the Company entered into a Transition Services Agreement ("TSA") pursuant to which it will provide certain transition services to the service recipient, including information technology and other administrative functions. The initial service periods for the individual services specified in the TSA generally range from three to twelve months following the closing of the transaction. The service recipient may, by providing the Company with at least thirty (30) days' prior written notice prior to the expiration of the applicable service period, extend any service for up to two additional extension periods, subject to the terms and conditions of the TSA. Other than the services provided pursuant to the TSA, the Company has no significant continuing involvement with the disposed business following the closing of the transaction.


	THREE MONTHS ENDED JUNE 30,				SIX MONTHS ENDED JUNE 30,
	2026		2025		2026		2025
	(In thousands)
Total revenues	$	6,389	$	12,214	$	19,212	$	26,119
Cost of Revenues	3,717		6,431		10,663		13,232
Sales and marketing	67		331		472		662
General and administrative	110		486		545		855
Depreciation and amortization	1,287		3,085		4,363		6,161
Income from discontinued operations	1,208		1,881		3,169		5,209
Pre-tax loss on the disposal of discontinued operations	(65,481)		—		(65,481)		—
Total income (loss) from discontinued operations before income taxes	(64,273)		1,881		(62,312)		5,209
Income tax expense (benefit)	(15,084)		5,345		(16,185)		5,435
Total loss from discontinued operations, net of tax	$	(49,189)	$	(3,464)	$	(46,127)	$	(226)


	December 31, 2025
	(In thousands)
Assets
Accounts receivable	$	1,951
Prepaid expenses and other current assets	315
Property and equipment, net	48
Operating lease right-of-use assets	99
Goodwill	28,255
Intangible assets, net of accumulated amortization	85,641
Other long-term assets	133
Deferred income taxes	1,386
Total assets of discontinued operations	$	117,828
Liabilities
Accounts payable	$	386
Accrued expenses	7,473
Current portion of deferred revenue	14
Other short-term liabilities	88
Total liabilities of discontinued operations	$	7,961