v3.26.1
Discontinued Operations (Tables)
 6 Months Ended
Jun. 30, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations
The carrying value of the assets and liabilities of the Company’s former CDMO discontinued operations, as of December 31, 2025 were as follows:
December 31, 2025
Assets
Current assets:
Accounts receivable$12,946 
Inventory, net7,910 
Prepaid expenses and other current assets1,521 
Total current assets22,377 
Property, equipment and software, net10,522 
Operating lease right-of-use assets1,115 
Other non current assets1,178 
Total assets$35,192 
Liabilities
Current liabilities:
Accounts payable$1,529 
Accrued expenses and other current liabilities169 
Deferred revenue9,645 
Lease liabilities272 
Total current liabilities11,615 
Lease liabilities, net of current portion984 
Total liabilities$12,599 
The net gain was computed as follows and remains subject to finalization of customary post-closing purchase price adjustments:
Cash consideration, net of estimated closing adjustments$119,572 
Costs to sell(8,765)
Carrying amount of assets sold:
Trade receivables(11,778)
Prepaid expenses and other current assets(3,350)
Inventory(9,151)
Property and equipment, net(9,075)
Operating lease right-of-use asset(1,053)
Other assets(1,179)
Total assets sold(35,586)
Carrying amount of net liabilities assumed:
Operating lease liability1,158 
Accounts payable and other current liabilities1,507 
Deferred revenue8,191 
Total liabilities assumed10,856 
Total carrying amount of net assets sold(24,730)
Net gain on sale of the CDMO Operations$86,077 
The following table presents the major classes of line items constituting income from discontinued operations, net of tax, for the periods presented:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Contract manufacturing revenue$13,142 $15,372 $27,196 $21,523 
Cost of manufacturing services(10,062)(8,906)(19,592)(14,306)
Income from operations of the CDMO Operations3,080 6,466 7,604 7,217 
Net gain on sale of the CDMO Operations86,077 — 86,077 — 
Net income from discontinued operations, net of taxes$89,157 $6,466 $93,681 $7,217 
Significant non-cash activities attributable to discontinued operations consisted of the following (in thousands):
Six Months Ended June 30,
20262025
Depreciation and amortization$1,798 $2,788 
Non-cash lease expense264 403 
Gain on sale of CDMO operations before transaction costs(94,842)—