Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2026

Segment Reporting

Schedule of information about segments

Information about our segments is as follows (in thousands):



		Three Months Ended June 30, 2026									Three Months Ended June 30, 2025									Six Months Ended June 30, 2026									Six Months Ended June 30, 2025
		Life Sciences Services			Life Sciences Products			Total			Life Sciences Services			Life Sciences Products			Total			Life Sciences Services			Life Sciences Products			Total			Life Sciences Services			Life Sciences Products			Total
Revenue from external customers ¹		$	28,215		$	20,756		$	48,971		$	25,818		$	19,636		$	45,454		$	55,650		$	41,119		$	96,769		$	49,031		$	37,463		$	86,494
Intersegment revenue			466			787			1,253			204			357			561			944			1,281			2,225			449			507			956
			28,681			21,543			50,224			26,022			19,993			46,015			56,594			42,400			98,994			49,480			37,970			87,450
Reconciliation of revenue
Elimination of intersegment revenue									(1,253)									(561)									(2,225)									(956)
Total consolidated revenue									48,971									45,454									96,769									86,494

Less:
Cost of revenue ^{1, 2, 3}			6,286			9,328						7,180			8,134						13,336			18,397						13,840			15,467
Employee related expenses			15,933			6,062						13,126			5,627						30,795			12,016						26,177			11,062
Engineering and development expense ^{4, 5}			265			408						930			557						467			921						1,913			969
Rent			2,017			167						1,894			186						3,868			345						3,697			373
Other segment items ⁶			2,529			1,285						2,946			1,478						6,573			2,761						6,391			2,578
Adjusted EBITDA for reportable segments		$	1,651		$	4,293		$	5,944		$	(54)		$	4,011		$	3,957		$	1,555		$	7,960		$	9,515		$	(2,538)		$	7,521		$	4,983

Corporate overhead costs									(5,569)									(4,871)									(9,751)									(8,716)
Depreciation and amortization expense									(6,589)									(6,249)									(12,991)									(12,383)
Acquisition and integration costs									-									(30)									-									(31)
Cost reduction initiatives									(140)									(266)									(140)									(482)
Investment income									3,132									1,466									6,222									3,039
Unrealized gain (loss) on investments									212									(1,082)									(1,893)									(1,275)
Foreign currency loss									(651)									(2,002)									(1,105)									(2,247)
Interest expense, net									(518)									(618)									(950)									(1,201)
Stock-based compensation expense									(2,402)									(2,045)									(4,797)									(5,109)
Change in fair value of contingent consideration									(27)									-									(42)									5,178
Income taxes									(505)									(274)									(613)									(508)
Other unallocated expenses									(1,142)									-									(1,142)									-
Loss from continuing operations								$	(8,255)								$	(12,014)								$	(17,687)								$	(18,752)

(1) Life Sciences Services segment includes immaterial revenue from external customers and cost of revenue associated with Life Sciences Products revenue and Life Sciences Products cost of products revenue, respectively.

(2) Cost of revenue is exclusive of employee related expenses of $8.0 million and $6.9 million, depreciation and amortization of $2.4 million and $2.1 million, stock-based compensation of $0.4 million and $0.5 million, and rent of $0.6 million and $0.7 million for the three months ended June 30, 2026 and 2025, respectively.

(3) Cost of revenue is exclusive of employee related expenses of $15.5 million and $13.8 million, depreciation and amortization of $4.6 million and $4.1 million, stock-based compensation of $0.8 million and $1.1 million, and rent of $1.2 million and $1.5 million for the six months ended June 30, 2026 and 2025, respectively.

(4) Engineering and development expense is exclusive of employee related expenses of $3.5 million and $2.4 million, stock-based compensation of $0.2 million and $0.2 million, and depreciation and amortization of $0.2 million and $0.1 million for the three months ended June 30, 2026 and 2025, respectively.

(5) Engineering and development expense is exclusive of employee related expenses of $6.4 million and $4.7 million, depreciation and amortization of $0.3 million and $0.2 million, and stock-based compensation of $0.4 million and $0.4 million for the six months ended June 30, 2026 and 2025, respectively.

(6) Other segment items primarily includes professional services, facility allocations, dues and subscriptions, audit fees, insurance, legal fees, and travel expense.