Financial Analysis

4. Business Combinations The Company recorded the assets acquired and liabilities assumed related to the following acquisitions at their fair values as of the acquisition date, from a market participants perspective. While the Company uses its best estimates and assumptions as part of the purchase price allocation process to value the assets acquired and liabilities assumed on the acquisition date, its estimates and assumptions are subject to refinement. Fair value estimates are based on a complex series of judgments about future events and uncertainties and rely heavily on estimates and assumptions. The judgments used to determine the estimated fair value assigned to each class of assets acquired and liabilities assumed, as well as asset lives, can materially impact the Companys results of operations. The measurement period to finalize the fair values is completed within one year after the respective acquisition date. Ziath Ltd On February 2, 2023, the Company acquired Ziath, Ltd. and its subsidiaries (Ziath). Based in Cambridge, United Kingdom, Ziath is a leading provider of 2D barcode readers for life science applications. Founded in 2005, Ziaths innovative 2D barcode readers are a key component of the laboratory automation workflow serving pharmaceutical, biotechnology and academic customers worldwide. Ziath is expected to enhance the Companys offerings, which support the entire lifecycle of sample management from specimen collection to sample registration, storage and pr …

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19. Commitments and Contingencies Contingencies The Company is subject to various legal proceedings, both asserted and unasserted, that arise in the ordinary course of business. The Company cannot predict the ultimate outcome of such legal proceedings or, in certain instances, provide reasonable ranges of potential losses. The Company considers all claims on a quarterly basis and based on known facts assesses whether potential losses are considered reasonably possible, probable, and estimable. Based upon this assessment, the Company then evaluates disclosure requirements and whether to accrue for such claims in the consolidated financial statements. At September 30, 2025 and as of the date of issuance of these consolidated financial statements, the Company believes that no new material provision for liability nor new disclosure is required related to any claims. In the event of unexpected subsequent developments and given the inherent unpredictability of these matters, there can be no assurance that the Companys assessment of any claim will reflect the ultimate outcome, and an adverse outcome in certain matters could, from time to time, have a material adverse effect on the Companys consolidated financial position or results of operations in particular quarterly or annual periods. Tariff Matter With the assistance of a third -party consultant, during the first quarter of fiscal year 2021 , the Company initiated a review of the value of transactions it used for intercompany im …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

2025 2024 2023 Significant Business Line Multiomics $ 269,231 $ 254,552 $ 248,296 Core Products (1) 197,631 196,502 192,061 Sample Repository Services 126,959 122,394 111,129 Total revenue $ 593,821 $ 573,448 $ 551,486

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14. Stock Based Compensation In accordance with the 2020 Equity Incentive Plan (the 2020 Plan), the Company may issue eligible employees options to purchase shares of the Companys common stock, restricted stock units and other equity incentives, which vest upon the satisfaction of a performance condition and/or a service condition. In addition, the Company issues common stock to participating employees pursuant to an employee stock purchase plan, and may issue common stock awards and deferred restricted stock units to members of its Board of Directors in accordance with its Board of Directors compensation program. 2020 Equity Incentive Plan In accordance with the 2020 Plan, the Company may grant employees (i) restricted stock and other stock-based awards, (ii) nonqualified stock options, and (iii) options intended to qualify as incentive stock options under Section 422 of the Internal Revenue Code. All employees of the Company or any affiliate of the Company, independent directors, consultants and advisors are eligible to participate in the 2020 Plan. The 2020 Plan provides for the issuance of an aggregate of 2,800,000 shares of common stock, including 2,500,000 shares reserved for issuance pursuant to the 2020 Plan, and up to 300,000 additional shares which may be issued pursuant to the 2020 Plan if outstanding awards granted under the Companys previous 2000 Plan or the Companys previous 2015 Plan are forfeited, expire or are cancelled. The following table reflects stock-bas …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

15. Fair Value Measurements Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis The following tables summarize assets and liabilities measured and recorded at fair value on a recurring basis in the Consolidated Balance Sheets as of September 30, 2025 and 2024 (in thousands): As of September 30, 2025 Description Total Fair Value Level 1 Level 2 Level 3 Assets: Cash equivalents $ 149,790 $ 148,539 $ 1,251 $ Available-for-sale securities 262,722 8,027 254,695 Investment in equity securities 2,100 2,100 Foreign exchange contracts 21 21 Total assets $ 414,633 $ 156,566 $ 255,967 $ 2,100 Liabilities: Net investment hedge 33,420 33,420 Foreign exchange contracts 120 120 Total liabilities $ 33,540 $ $ 33,540 $ As of September 30, 2024 Description Total Fair Value Level 1 Level 2 Level 3 Assets: Cash equivalents $ 157,990 $ 157,990 $ $ Available-for-sale securities 198,616 37,584 161,032 Convertible debt securities 2,000 2,000 Foreign exchange contracts 9 9 Total assets $ 358,615 $ 195,574 $ 161,041 $ 2,000 Liabilities: Net investment hedge 1,915 1,915 Foreign exchange contracts 213 213 Total liabilities $ 2,128 $ $ 2,128 $ Cash Equivalents Cash equivalents consisting of money market funds are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets. Cash equivalents consisting of certificates of deposit are classified within Level 2 of the fair value hierarchy because they are valued using obse …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

8. Goodwill and Intangible Assets Changes to the Companys operating segments effective October 1, 2023 resulted in a change to the Companys reporting units, which are aligned to the Companys operating and reportable segments (as further described in Note 18, Segment and Geographic Information below). As a result of this segment realignment, the Company allocated goodwill to the reporting units existing under the new organizational structure on a relative fair value basis as of October 1, 2023. The Company estimated the fair values of the affected businesses based upon the present value of their anticipated future cash flows. The Company's determination of fair value involved judgment and the use of significant estimates and assumptions. The Company tested its reporting units for potential impairment immediately before and after the segment realignment and concluded that the estimated fair value of each reporting unit exceeded its respective carrying value as of October 1, 2023. The Company conducts an impairment assessment annually on April 1, or more frequently if impairment indicators are present. The Company determined that a sustained decline in its stock price was an indicator of potential impairment and performed an interim quantitative goodwill impairment test for its reporting units as of June 30, 2025. The Company concluded that there was no impairment to goodwill for its Sample Management Solutions and Multiomics reporting units as of June 30, 2025. Based on the res …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

16. Income Taxes The components of the income tax (benefit) expense from continuing operations for the fiscal years are as follows (in thousands): Year Ended September 30, 2025 2024 2023 Current income tax expense (benefit) Federal $ (45,468 ) $ 227 $ (45 ) State 1,439 1,602 1,672 Foreign 12,265 11,150 8,549 Total current income tax expense (31,764 ) 12,979 10,176 Deferred income tax expense (benefit): Federal 291 (4,773 ) (18,737 ) State 59 1,318 (390 ) Foreign (187 ) (4,283 ) (3,014 ) Total deferred income tax expense (benefit) 163 (7,738 ) (22,141 ) Income tax expense (benefit) $ (31,601 ) $ 5,241 $ (11,965 ) The components of income (loss) from continuing operations before income taxes for the fiscal years are as follows (in thousands): Year Ended September 30, 2025 2024 2023 Domestic $ (33,676 ) $ (39,648 ) $ (53,400 ) Foreign 26,533 20,523 33,395 Loss from continuing operations before income taxes $ (7,143 ) $ (19,125 ) $ (20,005 ) The differences between the income tax (benefit) expense on income (loss) from continuing operations and income taxes computed using the applicable U.S. statutory federal tax rates for the fiscal years ended September 30, 2025, 2024 and 2023 are as follows (in thousands): Year Ended September 30, 2025 2024 2023 Income tax benefit computed at federal statutory rate $ (1,500 ) $ (3,945 ) $ (4,129 ) State income taxes, net of federal benefit (593 ) (598 ) (696 ) Foreign income taxed at different rates 953 (3,521 ) 1,477 Worthless stock deduction …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

10. Leases The Company has operating and finance leases for real estate and other assets in North America, Europe, and Asia. Non-real estate leases are primarily related to vehicles and office equipment. Lease expiration dates range between 2025 and 2043. The components of lease expense for fiscal years 2025 and 2024 are as follows (in thousands): Year Ended September 30, 2025 2024 Operating lease costs $ 10,251 $ 11,008 Finance lease costs: Amortization of assets 674 408 Interest on lease liabilities (44 ) 68 Total finance lease costs 630 476 Total operating and finance lease costs 10,881 11,484 Variable lease costs 3,293 2,977 Short-term lease costs 227 237 Total lease costs $ 14,401 $ 14,698 Supplemental balance sheet information related to leases is as follows (in thousands, except lease term and discount rate): September 30, 2025 September 30, 2024 Operating Leases: Operating lease right-of-use assets $ 54,048 $ 60,406 Accrued expenses and other current liabilities $ 7,175 $ 8,089 Long-term operating lease liabilities 51,244 56,677 Total operating lease liabilities $ 58,419 $ 64,766 Finance Leases: Property, plant and equipment, at cost $ 2,656 $ 4,570 Accumulated amortization (1,408 ) (3,234 ) Property, plant and equipment, net $ 1,248 $ 1,336 Accrued expenses and other current liabilities $ 607 $ 578 Other long-term liabilities 903 975 Total finance lease liabilities $ 1,510 $ 1,553 Weighted average remaining lease term (in years): Operating leases 10.60 11.00 Finance …

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"Recently Adopted Accounting Pronouncements In November 2023, the FASB issued Accounting Standards Update (""ASU"") 2023 - 07, Improvements to Reportable Segment Disclosures . The standard expands reportable segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the Chief Operating Decision Maker (CODM) and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segments profit or loss and assets. The Company adopted the new guidance beginning for fiscal year 2025. Adoption of the new standard did not have a material impact on the Company's consolidated results of operations, financial position or cash flows. The incremental disclosure required under the standard appear in Note 18, Segment and Geographic Information . In 2021, the Organization of Economic Cooperation and Development (OECD) introduced its Pillar II Framework Model Rules (Pillar 2 ), which are designed to impose a 15% global minimum tax on the earnings of in-scope multinational corporations on a country-by-country basis. Certain aspects of Pillar 2 took effect on January 1, 2024 while other aspects went into effect on January 1, 2025. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements as the Company does not expect to meet the consolidated revenue threshold of 750 millio …

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9. Restructuring 2024 Restructuring Plan In the second quarter of fiscal year 2024 , the Company launched initiatives designed to optimize resources for future growth and improve efficiency across its organization. The focus of the initiatives is to improve the Companys profitability, which includes facilities consolidation, portfolio optimization, and organization structure simplification. The Company expects to complete the activities included in these initiatives by the end of fiscal year 2026 . As of the date of issuance of the financial statements for the fiscal year ended September 30, 2025, the Company has not identified restructuring actions related to these initiatives that will result in additional material charges. The Company expects to identify additional actions as it further refines its plan, and the related initiatives in future periods will be recorded when specified criteria are met, including but not limited to, communication of benefit arrangements or when the costs have been incurred. The majority of the restructuring expenses associated with the initiatives described above for the fiscal year ended September 30, 2025 are severance and related costs. Of the total restructuring expenses in the fiscal year ended September 30, 2025, $2.0 million is related to the Sample Management Solutions segment; $2.1 million is related to the Multiomics segment, and $1.1 million is related to corporate. The majority of the restructuring expenses associated with the initi …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

13. Revenue from Contracts with Customers Disaggregated Revenue The Company disaggregates revenue from contracts with customers in a manner that depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. The following is revenue by significant business line for the fiscal years ended September 30, 2025, 2024 and 2023 (in thousands): 2025 2024 2023 Significant Business Line Multiomics $ 269,231 $ 254,552 $ 248,296 Core Products (1) 197,631 196,502 192,061 Sample Repository Services 126,959 122,394 111,129 Total revenue $ 593,821 $ 573,448 $ 551,486 ( 1 ) Core Products are Automated Stores, Cryogenic Systems, Automated Sample Tube, Consumables and Instruments and Controlled Rate Thawing Devices. Contract Balances Accounts Receivable, Net. Accounts receivable represent rights to consideration in exchange for products or services that have been transferred by the Company, when payment is unconditional and only the passage of time is required before payment is due. Accounts receivable do not bear interest and are recorded at the invoiced amount. The Company maintains an allowance for expected credit losses representing its best estimate of probable credit losses related to its existing accounts receivable and their net realizable value. The Company determines the allowance for expected credit losses based on a number of factors, including an evaluation of customer credit worthiness, the age of the outstanding receivables, ec …

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18. Segment and Geographic Information Operating segments are defined as components of an enterprise that engage in business activities from which it may recognize revenues and incur expenses, and for which discrete financial information is available and regularly reviewed by the CODM in deciding how to allocate resources and to assess performance. The Companys operations are organized and managed by type of products and services and segment information is reported accordingly. The Companys Chief Executive Officer is the Companys CODM. There have been no operating segments aggregated to arrive at the Companys reportable segments. Revenues for all operating segments include only transactions with unaffiliated customers and include no intersegment revenues. The accounting policies of the reportable segments are the same as those described in Note 2, Summary of Significant Accounting Policies . As of November 12, 2024 , the Companys B Medical Systems business met the held for sale criteria and discontinued operations criteria in accordance with FASB ASC 205 and the results of the B Medical Systems business are included within discontinued operations. As a result, the Companys continuing operations includes the following two operating and reportable segments: Sample Management Solutions . The Sample Management Solutions business resources operate as a single business unit offering end-to-end sample management products and services, including: Sample Repository Services and Core P …

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"2. Summary of Significant Accounting Policies Principles of Consolidation and Basis of Presentation The accompanying Consolidated Financial Statements include the accounts of the Company and all entities where it has a controlling financial interest and have been prepared in accordance with accounting principles generally accepted in the United States (GAAP). All intercompany balances and transactions have been eliminated in consolidation. Revisions to Previously Issued Financial Statements and Financial Information In connection with the preparation of its fiscal year 2025 financial statements, the Company identified errors in its consolidated financial statements for the years ended September 30, 2024 and 2023, as well as for interim periods within those years and the first three quarters and year-to-date periods within fiscal year 2025. Specifically, the Company's historical classification of certain operating expenses was misclassified between cost of revenue and operating expenses in its Consolidated Statement of Operations. The Company is revising the previously issued financial statements for those periods to correct this error. Additionally, the Company is correcting for other previously identified immaterial misstatements, including (i) an understatement of the loss from discontinued operations for the interim period ended March 31, 2025, ( ii) the effects of exchange rate changes on the Companys foreign denominated restricted cash and (iii) certain other immaterial …

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12. Stockholders Equity Share Repurchases On November 4, 2022, the Company's Board of Directors approved an authorization to repurchase up to $1.5 billion of the Company's common stock (the 2022 Repurchase Authorization). On November 23, 2022, pursuant to the 2022 Repurchase Authorization, the Company entered into an accelerated share repurchase (ASR) agreement for the repurchase of $500 million of its common stock. Under this agreement, which settled April 3, 2023, the Company repurchased and retired 10.1 million shares of its common stock for $500 million. In April 2023, other arrangements commenced under the 2022 Repurchase Authorization with the intent of repurchasing the remaining $1.0 billion of shares of the Company's common stock through open market repurchases. As of September 30, 2024, the Company had repurchased and retired 19.9 million shares of common stock for $1.0 billion in open market repurchases. Through the ASR agreement and open market repurchases, as of September 30, 2024, the Company had repurchased and retired 30.0 million shares of common stock for the full $1.5 billion approved under the 2022 Repurchase Authorization and no authorization is available for additional repurchases. All shares repurchased under the 2022 Repurchase Authorization were retired and accounted for as a reduction to stockholders equity in the Consolidated Balance Sheets and treated as a repurchase of common stock for purposes of calculating earnings per share as of the applicable …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing