Center Health

On August 7, 2026 (the "Center Health Closing Date"), the Company completed its acquisition (the "Center Health Acquisition"), of Center Health Incorporated, a Delaware corporation ("Center Health"), pursuant to an Agreement and Plan of Merger and Reorganization whereby Center Health merged with and into a subsidiary of the Company that is a Delaware limited liability company, with the resulting Company being named Center Health Sub, LLC. The Center Health Acquisition provides access to Center Health's AI-enabled chronic disease management platform, which connects patients with providers and generates actionable insights across the entire care journey.

The Company acquired all of the issued and outstanding shares of capital stock of Center Health. The Center Health Acquisition resulted in goodwill of $18.0 million. The aggregate acquisition date fair value of consideration for the Center Health Acquisition totaled $18.8 million. Consideration for the acquisition consisted of $5.4 million in cash (the "Center Health Cash Consideration"), plus the issuance of an aggregate of 255,885 shares of the Company's Class A common stock ( the "Center Health Stock Consideration"), subject to adjustment for cash, unpaid indebtedness, unpaid transaction expenses and net working capital of Center Health. The Center Health Stock Consideration was valued at $52.05 per share, which was the closing price of the Company's Class A common stock on the Center Health Closing Date. In accordance with the terms of the agreement, $2.0 million of the Center Health Cash Consideration was held back and payable within five business days of August 7, 2027 and recorded within Other current liabilities.

Paige.AI, Inc.

On August 22, 2025, (the "Paige Closing Date"), the Company completed its acquisition (the "Paige Acquisition") of Paige.AI, Inc. ("Paige"), a Delaware corporation, pursuant to an Agreement and Plan of Merger. Paige is an AI company specializing in digital pathology. The Paige Acquisition allows the Company to grow its dataset and establish a strong footprint in digital pathology with an industry leading technology portfolio.

The Company acquired all of the issued and outstanding shares of Paige. The acquisition resulted in goodwill of $141.1 million. No goodwill is expected to be deductible for tax purposes. The aggregate acquisition date fair value of consideration for the Paige

Acquisition totaled $101.5 million. Consideration consisted of $3.0 million of cash and the issuance of an aggregate of 1,256,977 shares of the Company's Class A common stock (the "Paige Stock Consideration"), which was valued at $80.52 per share, the closing price of the Company's Class A common stock on the Paige Closing Date.

A portion of the Paige Stock Consideration was paid to employees as consideration for transaction bonuses. Paige paid $3.0 million in December 2025 to fulfill employee tax obligations related to the issuance. The equivalent was withheld from those employees in the Company's Class A common stock and included in treasury stock. In accordance with the terms of the agreement, $6.9 million in equity consideration was held back. The net working capital adjustment resulted in a decrease to the acquisition price of $1.2 million which was recorded to goodwill. The $6.9 million holdback liability was recognized within Other long-term liabilities as of the opening balance sheet date. The holdback liability is remeasured at fair value in each period following the closing with changes in fair value recorded within Selling, general and administrative expense. The Company settled the holdback liability, releasing 69,981 shares of the Company’s Class A common stock to Paige shareholders and 15,985 shares were released to the Company's treasury shares during the three months ended September 30, 2026. As of September 30, 2026, no amounts remain due under holdback agreements related to the Paige Acquisition.

The Company incurred $0.9 million of transaction costs related to the Paige Acquisition, of which $0 and $0.4 million were recorded during the three months ended September 30, 2026 and 2025, respectively, and $0 and $0.9 million were recorded during the nine months ended September 30, 2026 and 2025, respectively, all of which was recorded within Selling, general and administrative expense in the consolidated statement of operations.

The excess of purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which is primarily attributed to the assembled workforce of the acquired company and expected growth in the Company's dataset. The Company also assumed $39.5 million of remaining purchase commitments under Paige's Microsoft Azure cloud services agreement in excess of forecasted usage, which is recorded in Other long-term liabilities.

The pro forma amounts have been calculated after applying the Company's accounting policies and adjusting the results of Paige to reflect acquisition-related transaction costs and the additional depreciation that would have been charged assuming the fair value adjustments to property and equipment, net had been applied from January 1, 2024. The pro forma financial information for the three and nine months ended September 30, 2025 combines the Company's financial results and the historical results of Paige for the three and nine months ended September 30, 2025. The pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the actual results of operations had the acquisition taken place as of the beginning of the period presented, or the results that may occur in the future.

For the three and nine months ended September 30, 2025, Paige contributed an immaterial amount in net revenue within Data and applications revenue and $2.4 million of net loss to the Company's consolidated results.

Pursuant to ASC 805, Business Combinations, the Company accounted for the Paige Acquisition as a business combination under the acquisition method of accounting.

Deep 6

On March 11, 2025, the Company acquired all of the issued and outstanding interests of Deep 6 AI, Inc. ("Deep 6"), a Delaware corporation (the "Deep 6 Acquisition"), that enables healthcare organizations to de-risk clinical trials, accelerate recruitment, and generate real-world evidence with speed and precision. Deep 6's AI-powered software matches patients to clinical trials by mining real-time structured and unstructured electronic medical record data across a broad ecosystem.

The acquisition resulted in goodwill of $21.0 million. The aggregate acquisition date fair value of consideration for the Deep 6 Acquisition totaled $17.4 million. Consideration consisted of $4.3 million of cash and $13.1 million of the Company's Class A common stock. In accordance with the terms of the agreement, $0.8 million in equity consideration was held back. The net working capital adjustment resulted in a decrease to the acquisition price of $0.2 million which was recorded to goodwill. The $0.6 million holdback liability was recognized within Other long-term liabilities as of the opening balance sheet date. The holdback liability is remeasured at fair value in each period following the closing within Selling, general and administrative expense. The Company settled the holdback liability, releasing 13,155 shares of the Company’s Class A common stock to Deep 6 shareholders related to the holdback and 4,217 shares were released to the Company's treasury shares during the three months ended September 30, 2026. As of September 30, 2026, no amounts remain due under holdback agreements related to the Deep 6 Acquisition.

Ambry Genetics Corporation

On February 3, 2025 (the "Ambry Closing Date"), the Company completed its acquisition (the "Ambry Acquisition") of Ambry Genetics Corporation, a Delaware corporation ("Ambry"), pursuant to a Securities Purchase Agreement (the "Ambry Purchase Agreement") entered into on November 4, 2024 with Realm, IDX, Inc., a Delaware corporation (the "Ambry Seller") and the Ambry Seller's ultimate parent, Konica Minolta, Inc., a Japanese corporation, as guarantor.

The Company acquired all of the issued and outstanding shares of capital stock of Ambry. Consideration for the acquisition consisted of $375.0 million in cash, subject to adjustment for cash, unpaid indebtedness, unpaid transaction expenses and net working capital of Ambry, plus the issuance of an aggregate of 4,843,136 shares of the Company's Class A common stock (the "Ambry Stock Consideration"). The Ambry Stock Consideration was valued at $61.54 per share, which was the closing price of the Company's Class A common stock on the Ambry Closing Date. Pursuant to the terms of the Ambry Purchase Agreement, 2,152,505 shares of the Company's Class A common stock issued as Ambry Stock Consideration were subject to a lock-up for a period of one year following the Ambry Closing Date. The Company was an Ambry customer prior to the acquisition and, pursuant to that preexisting relationship, owed $3.8 million to Ambry as of the Ambry Closing Date. This balance was effectively settled upon the Ambry Acquisition and was treated as a reduction to consideration transferred. The net working capital adjustment was finalized in September 2025, resulting in a decrease to the acquisition price of $3.0 million which was recorded to goodwill.

Ambry is a leader in hereditary cancer screening. The Ambry Acquisition provides the Company with expanded testing capabilities for inherited cancer risk. In addition, the Ambry Acquisition complements the Company's strategy of using data to advance clinical and scientific innovation. Ambry's extensive product offerings will allow the Company to expand into new disease categories, including pediatrics, rare disease, immunology, women's reproductive health, and cardiology.

The Company incurred $7.4 million of transaction costs related to the Ambry Acquisition, of which $0 and $0.1 million were recorded during the three months ended September 30, 2026 and 2025, respectively, and $0 and $4.6 million were recorded during the nine months ended September 30, 2026 and 2025, respectively, within Selling, general and administrative expense in the condensed consolidated statement of operations.

The excess of purchase consideration over the fair value of the net assets acquired was recorded as goodwill, which is primarily attributed to the assembled workforce of the acquired company and expected growth from the horizontal integration of Ambry's genomics testing. $0.6 million of goodwill is expected to be deductible for tax purposes. The identifiable intangible assets acquired consisted of customer relationships, developed technology - biotech, developed technology - software, and trade names.

The fair value of customer relationships was estimated using the multi period excess earnings method, which isolates the net earnings attributable to the asset being measured. Significant assumptions used in the valuation of customer relationships included forecasted revenue and expenses, customer attrition, contributory asset charges and discount rate.

The fair values of developed technology - biotech, developed technology - software, and trade names were estimated using the relief from royalty method, which considers the market-based royalty a company would pay to enjoy the benefits of the trade name or technology in lieu of actual ownership of the trade name or technology. Significant assumptions used in the valuation of these assets included forecasted revenue, royalty rate, and discount rate. In addition, the valuation of developed technology assets included assumed obsolescence rates.

As described, the valuation of identifiable intangible assets acquired required various estimates and assumptions. The Company's management believes the fair values recognized for the assets acquired and liabilities assumed are based on reasonable estimates and assumptions.

The pro forma amounts have been calculated after applying the Company's accounting policies and adjusting the results of Ambry to reflect the additional depreciation and amortization that would have been charged assuming the fair value adjustments to property and equipment, net and intangible assets had been applied from January 1, 2024. The pro forma financial information for the three and nine months ended September 30, 2025 combines the Company's financial results and the historical results of Ambry for the three and nine months ended September 30, 2025. Included in the adjustment is a $46.2 million tax benefit from the release of a portion of the valuation allowance attributable to estimated deferred tax liabilities as of the opening balance sheet. The pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the actual results of operations had the acquisition taken place as of the beginning of the period presented, or the results that may occur in the future.

For the three months ended September 30, 2025, Ambry contributed $102.6 million in net revenue within Diagnostics revenue and $2.4 million of net income to the Company's consolidated results. For the nine months ended September 30, 2025, Ambry contributed $263.4 million in net revenue within Diagnostics revenue and $10.1 million of net income to the Company's consolidated results.

Pursuant to ASC 805, Business Combinations, the Company accounted for the Ambry Acquisition as a business combination under the acquisition method of accounting.