v3.26.1
Segment and Geographic Information (Tables)
 6 Months Ended
Jun. 28, 2026
Segment Reporting [Abstract]  
Segment Reporting
The following tables present the results of operations of the Company’s reportable segments for the three and six months ended June 28, 2026 and June 29, 2025:
Three Months Ended June 28, 2026
(In millions)North AmericaEMEAChinaJPACLatin AmericaTotal
Total revenues$327.4 $91.2 $67.8 $74.3 $70.2 $630.9 
Less (1):
Cost of sales, excluding amortization of intangibles116.7 44.3 28.8 43.3 38.3 271.4 
Selling, marketing and administrative40.7 23.9 9.5 12.3 13.2 99.6 
Research and development0.4 0.1 0.6 0.3 0.6 2.0 
Other expense, net— 0.8 (1.4)0.1 (1.6)(2.1)
Total segment Adjusted EBITDA$169.6 $22.1 $30.3 $18.3 $19.7 260.0 
Reconciliation of segment Adjusted EBITDA
Corporate (2)
(130.7)
Depreciation and amortization(116.7)
Interest expense, net(54.7)
Restructuring, integration and other charges(6.5)
Amortization of deferred cloud computing implementation costs(9.2)
Employee compensation charges(4.5)
Tax indemnification expense(3.3)
EU medical device regulation transition costs (3)
(0.7)
Loss on investments(8.1)
Other adjustments(6.8)
Loss before income taxes$(81.2)
Six Months Ended June 28, 2026
(In millions)North AmericaEMEAChinaJPACLatin AmericaTotal
Total revenues$656.3 $183.7 $131.3 $144.3 $135.1 $1,250.7 
Less (1):
Cost of sales, excluding amortization of intangibles231.2 88.9 60.8 84.8 75.0 540.7 
Selling, marketing and administrative85.1 50.5 20.0 24.7 25.2 205.5 
Research and development0.8 0.5 1.3 0.6 1.1 4.3 
Other expense, net0.2 1.6 (1.6)(0.6)(1.7)(2.1)
Total segment Adjusted EBITDA$339.0 $42.2 $50.8 $34.8 $35.5 502.3 
Reconciliation of segment Adjusted EBITDA
Corporate (2)
(264.3)
Depreciation and amortization(229.6)
Interest expense, net(105.8)
Restructuring, integration and other charges(10.9)
Amortization of deferred cloud computing implementation costs(17.2)
Employee compensation charges(10.0)
Tax indemnification expense(3.3)
EU medical device regulation transition costs (3)
(1.4)
Loss on investments(9.0)
Other adjustments(11.5)
Loss before income taxes$(160.7)
Three Months Ended June 29, 2025
(In millions)North AmericaEMEAChinaJPACLatin AmericaTotal
Total revenues$310.7 $87.3 $83.4 $72.2 $60.3 $613.9 
Less (1):
Cost of sales, excluding amortization of intangibles110.6 43.9 30.8 39.4 31.4 256.1 
Selling, marketing and administrative40.0 23.6 10.8 12.8 9.9 97.1 
Research and development0.4 0.7 0.8 0.4 0.5 2.8 
Other expense, net— 0.8 (1.1)0.4 (0.2)(0.1)
Total segment Adjusted EBITDA$159.7 $18.3 $42.1 $19.2 $18.7 258.0 
Reconciliation of segment Adjusted EBITDA
Corporate (2)
(151.2)
Depreciation and amortization(110.3)
Interest expense, net(40.5)
Restructuring, integration and other charges(178.9)
Amortization of deferred cloud computing implementation costs(6.8)
EU medical device regulation transition costs (3)
(0.1)
Gain on investments1.0 
Other adjustments(0.8)
Loss before income taxes$(229.6)
Six Months Ended June 29, 2025
(In millions)North AmericaEMEAChinaJPACLatin AmericaTotal
Total revenues$717.4 $176.2 $158.4 $140.3 $114.4 $1,306.7 
Less (1):
Cost of sales, excluding amortization of intangibles239.0 91.2 65.0 77.3 63.5 536.0 
Selling, marketing and administrative83.6 46.5 21.4 25.0 19.7 196.2 
Research and development0.8 1.3 1.7 0.8 0.9 5.5 
Other expense, net— 2.4 (1.1)0.4 (0.4)1.3 
Total segment Adjusted EBITDA$394.0 $34.8 $71.4 $36.8 $30.7 567.7 
Reconciliation of segment Adjusted EBITDA
Corporate (2)
(301.1)
Depreciation and amortization(217.4)
Interest expense, net(80.5)
Restructuring, integration and other charges(195.0)
Amortization of deferred cloud computing implementation costs(11.1)
EU medical device regulation transition costs (3)
(0.3)
Gain on investments1.3 
Other adjustments(2.0)
Loss before income taxes$(238.4)
(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(2) Primarily consists of costs related to executive and staff functions, including certain finance, human resources, manufacturing and IT functions, which benefit the Company as a whole. These costs are primarily related to the general management of these functions on a corporate level and the design and development of programs, policies and procedures that are then implemented in the individual segments, with each segment bearing its own cost of implementation. The Company’s corporate function also includes debt and stock-based compensation associated with all employee stock-based awards.
(3) Represents incremental consulting costs and R&D manufacturing site costs to align compliance of the Company’s existing, on-market products that were previously registered under the European In Vitro Diagnostics Directive regulatory framework with the requirements under the EU’s In Vitro Diagnostic Regulation, which generally apply from May 2022 onwards.