The Company conducts an impairment assessment annually on April 1, or more frequently if impairment indicators are present. During the second quarter of fiscal year 2026, the Company assessed several events and circumstances that could affect the significant inputs used to determine the fair value of its reporting units, including updates to forecasted cash flows, increased uncertainty in the macroeconomic and geopolitical environment, and a sustained decline in its stock price. The Company concluded it was more likely than not the fair value of each of the SMS and Multiomics reporting units was less than their respective carrying amounts due to the combined impact of declining stock price and revised forecasts. As a result, the Company completed a quantitative goodwill impairment test for each of its reporting units in accordance with ASC 350, Intangibles – Goodwill (“ASC 350”) as of March 31, 2026.

For the quantitative goodwill impairment analysis performed, the Company compared the estimated fair values of each of its reporting units to their respective carrying amounts. The estimated fair value for each reporting unit was derived using the income approach and the market approach, weighted at 50% each as of March 31, 2026. The Discounted Cash Flow (“DCF”) Method was used in the income approach which reflected the Company’s assumptions regarding revenue growth rates, forecasted gross profit margins, operating expenses, capital expenditures, discount rates, terminal period growth rates, economic and market trends, and other expectations about the anticipated operating results of the SMS and Multiomics reporting units. The guideline company method was used in the market approach and publicly-traded companies in similar lines of business were identified and used in an analysis to estimate the fair value. Under the guideline company method, the Company made significant estimates and assumptions, primarily including the selection of appropriate peer group companies, control premiums appropriate for acquisitions in the industries in which the Company competes, and specific valuation multiples utilized to estimate the fair value of each reporting unit. Although the Company determined that estimates and assumptions used in the income approach and the market approach were reasonable, actual results may vary significantly and may expose it to material impairment charges in the future.

Based on the results of the Company’s quantitative goodwill impairment analysis as of March 31, 2026, the carrying amounts of its Multiomics and SMS reporting units exceeded their respective fair values, resulting in non-cash impairment charges of $112.4 million for Multiomics and $36.6 million for SMS. The total goodwill impairment charge of $149.1 million was recorded during the quarter ended March 31, 2026, which is included within “Impairment of goodwill and intangible assets” on the Condensed Consolidated Statements of Operations for the nine months ended June 30, 2026.

On April 1, 2026, the Company completed its annual goodwill impairment test for the SMS and Multiomics reporting units. In light of the quantitative tests performed as of March 31, 2026 and after considering events and circumstances through the annual testing date, the Company performed qualitative assessments and concluded that it was not more likely than not that the fair value of either reporting unit was less than its carrying amount. Accordingly, no additional quantitative goodwill impairment test was required and no additional impairment loss was recognized as part of the annual test.

From April 1, 2026 through June 30, 2026, the Company evaluated whether any events or changes in circumstances occurred that would indicate the need to perform either a qualitative or quantitative assessment of goodwill impairment subsequent to the annual impairment testing date of April 1, 2026. In conducting this evaluation, the Company considered, among other factors, macroeconomic conditions, industry and market developments, overall financial performance, entity-specific events, and changes in its market capitalization and stock price. Based on these considerations, the Company did not identify any triggering events or significant adverse changes in its business, operations, financial performance, or outlook during the three months ended June 30, 2026. In addition, the Company’s market capitalization and stock price improved during the period. As such, the Company concluded that it was not more likely than not that the fair value of its each reporting unit was less than its carrying value as of June 30, 2026 and no goodwill impairment charges were recognized during the three months ended June 30, 2026.

In the event the performance of any of the reporting units does not meet management expectations in the future, the Company experiences a prolonged macroeconomic or market downturn, or there are other negative revisions to key assumptions used in the analysis used to estimate fair value, the Company may be required to perform additional impairment analyses which could result in one or more additional impairment charges, any one of which could have a material and adverse effect on the Company’s financial position and results of operations.


	Sample Management Solutions		Multiomics		Total
Balance - September 30, 2025	$	505,635	$	196,760	$	702,395
Acquisition of UK Biocentre	1,207		—		1,207
Impairment	(36,647)		(112,436)		(149,083)
Currency translation adjustments	(7,062)		—		(7,062)
Balance - June 30, 2026	$	463,133	$	84,324	$	547,457

Accumulated goodwill impairments, June 30, 2026	$	(36,647)	$	(112,436)	$	(149,083)


	June 30, 2026						September 30, 2025
	Cost		Accumulated Amortization		Net Book Value		Cost		Accumulated Amortization		Net Book Value
Patents	$	1,220	$	1,220	$	—	$	1,220	$	1,220	$	—
Completed technology	110,872		69,513		41,359		111,501		63,408		48,093
Trademarks and trade names	1,741		410		1,331		727		293		434
Customer relationships	249,378		206,380		42,998		248,846		195,559		53,287
Total	$	363,211	$	277,523	$	85,688	$	362,294	$	260,480	$	101,814