| Segment Information |
Note 12. Segment Information:
The Company's management evaluates segment operating performance based on operating income before certain charges to cost of sales and selling, general and administrative expenses, principally associated with the impact of partially-owned consolidated subsidiaries as well as acquisition accounting related to inventory, amortization of acquisition-related intangible assets and other acquisition-related expenses. The Protein Sciences and Diagnostics and Spatial Biology segments both include consumables, instruments, services and royalty revenue.
The following is financial information relating to the Company's reportable segments (in thousands):
|
|
|
|
|
|
|
|
|
For the Quarter Ended March 31, 2026 |
|
|
Protein Sciences |
|
|
Diagnostics and Spatial Biology |
|
|
Total |
Net sales |
$ |
226,154 |
|
$ |
85,586 |
|
$ |
311,740 |
Intersegment |
|
|
|
|
|
|
|
(325) |
Consolidated net sales |
|
|
|
|
|
|
$ |
311,415 |
Segment operating income |
|
|
|
|
|
|
|
|
Cost of sales |
|
53,794 |
|
|
38,649 |
|
|
|
Selling, general and administrative |
|
57,909 |
|
|
27,616 |
|
|
|
Research and development |
|
14,452 |
|
|
9,002 |
|
|
|
Segment operating income |
$ |
99,999 |
|
$ |
10,319 |
|
$ |
110,318 |
Unallocated amounts |
|
|
|
|
|
|
|
|
Amortization of intangibles |
|
|
|
|
|
|
|
(15,382) |
Acquisition related expenses and other |
|
|
|
|
|
|
|
(897) |
Certain litigation charges |
|
|
|
|
|
|
|
(822) |
Stock based compensation, inclusive of employer taxes |
|
|
|
|
|
|
|
(10,968) |
Restructuring and restructuring-related costs |
|
|
|
|
|
|
|
(2,952) |
Corporate general, selling, and administrative expenses |
|
|
|
|
|
|
|
(3,802) |
Consolidated operating income |
|
|
|
|
|
|
$ |
75,495 |
|
|
|
|
|
|
|
|
|
For the Quarter Ended March 31, 2025 |
|
|
Protein Sciences |
|
|
Diagnostics and Spatial Biology |
|
|
Total |
Net sales |
$ |
227,687 |
|
$ |
89,231 |
|
$ |
316,918 |
Other revenue(1) |
|
|
|
|
|
|
|
— |
Intersegment |
|
|
|
|
|
|
|
(737) |
Consolidated net sales |
|
|
|
|
|
|
$ |
316,181 |
Segment operating income |
|
|
|
|
|
|
|
|
Cost of sales |
|
53,193 |
|
|
37,189 |
|
|
|
Selling, general and administrative |
|
55,804 |
|
|
33,419 |
|
|
|
Research and development |
|
14,780 |
|
|
10,200 |
|
|
|
Segment operating income |
$ |
103,910 |
|
$ |
8,423 |
|
$ |
112,333 |
Unallocated amounts |
|
|
|
|
|
|
|
|
Amortization of intangibles |
|
|
|
|
|
|
|
(18,836) |
Acquisition related expenses and other |
|
|
|
|
|
|
|
(5,159) |
Certain litigation charges |
|
|
|
|
|
|
|
(38,927) |
Stock based compensation, inclusive of employer taxes |
|
|
|
|
|
|
|
(11,629) |
Restructuring and restructuring-related costs |
|
|
|
|
|
|
|
(716) |
Recovery of assets held-for-sale |
|
|
|
|
|
|
|
3,655 |
Corporate general, selling, and administrative expenses |
|
|
|
|
|
|
|
(2,013) |
Impact of business held-for-sale(1) |
|
|
|
|
|
|
|
— |
Consolidated operating income |
|
|
|
|
|
|
$ |
38,708 |
(1) Includes the quarterly results of a business that has met the held-for-sale criteria since December 31, 2023.
|
|
|
|
|
|
|
|
|
For the Nine Months Ended March 31, 2026 |
|
|
Protein Sciences |
|
|
Diagnostics and Spatial Biology |
|
|
Total |
Net sales |
$ |
643,426 |
|
$ |
246,224 |
|
$ |
889,650 |
Other revenue |
|
|
|
|
|
|
|
5,439 |
Intersegment |
|
|
|
|
|
|
|
(1,242) |
Consolidated net sales |
|
|
|
|
|
|
$ |
893,847 |
Segment operating income |
|
|
|
|
|
|
|
|
Cost of sales |
|
161,342 |
|
|
108,857 |
|
|
|
Selling, general and administrative |
|
176,668 |
|
|
83,064 |
|
|
|
Research and development |
|
43,089 |
|
|
26,674 |
|
|
|
Segment operating income |
$ |
262,327 |
|
$ |
27,629 |
|
$ |
289,956 |
Unallocated amounts |
|
|
|
|
|
|
|
|
Amortization of intangibles |
|
|
|
|
|
|
|
(46,111) |
Acquisition related expenses and other |
|
|
|
|
|
|
|
(6,341) |
Certain litigation charges |
|
|
|
|
|
|
|
(5,370) |
Stock based compensation, inclusive of employer taxes |
|
|
|
|
|
|
|
(37,262) |
Restructuring and restructuring-related costs |
|
|
|
|
|
|
|
(14,201) |
Recovery of assets held-for-sale |
|
|
|
|
|
|
|
6,789 |
Corporate general, selling, and administrative expenses |
|
|
|
|
|
|
|
(7,273) |
Impact of business held-for-sale(1) |
|
|
|
|
|
|
|
(2,573) |
Consolidated operating income |
|
|
|
|
|
|
$ |
177,614 |
(1) Includes the quarterly results of a business that has met the held-for-sale criteria since June 30, 2025.
|
|
|
|
|
|
|
|
|
For the Nine Months Ended March 31, 2025 |
|
|
Protein Sciences |
|
|
Diagnostics and Spatial Biology |
|
|
Total |
Net sales |
$ |
643,774 |
|
$ |
256,558 |
|
$ |
900,332 |
Other revenue(1) |
|
|
|
|
|
|
|
4,152 |
Intersegment |
|
|
|
|
|
|
|
(1,813) |
Consolidated net sales |
|
|
|
|
|
|
$ |
902,671 |
Segment operating income |
|
|
|
|
|
|
|
|
Cost of sales |
|
157,618 |
|
|
108,417 |
|
|
|
Selling, general and administrative |
|
170,420 |
|
|
102,002 |
|
|
|
Research and development |
|
44,172 |
|
|
30,199 |
|
|
|
Segment operating income |
$ |
271,564 |
|
$ |
15,940 |
|
$ |
287,504 |
Unallocated amounts |
|
|
|
|
|
|
|
|
Amortization of intangibles |
|
|
|
|
|
|
|
(57,136) |
Acquisition related expenses and other |
|
|
|
|
|
|
|
(9,051) |
Certain litigation charges |
|
|
|
|
|
|
|
(40,606) |
Stock based compensation, inclusive of employer taxes |
|
|
|
|
|
|
|
(37,504) |
Restructuring and restructuring-related costs |
|
|
|
|
|
|
|
(15,027) |
Recovery of assets held-for-sale |
|
|
|
|
|
|
|
3,655 |
Corporate general, selling, and administrative expenses |
|
|
|
|
|
|
|
(5,241) |
Impact of business held-for-sale(1) |
|
|
|
|
|
|
|
(479) |
Consolidated operating income |
|
|
|
|
|
|
$ |
126,115 |
(1) Includes the results of a business that has met the held-for-sale criteria since December 31, 2023.
|