| Results of Operations, Depreciation and Amortization Expenses, Accounts Receivable and Inventory by Reportable Segments |
Results of operations, depreciation and amortization expenses, accounts receivable and inventories by reportable segments for the periods indicated were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2025 |
|
|
Automation Enabling Technologies |
|
|
Medical Solutions |
|
|
Total |
|
Revenue |
$ |
500,835 |
|
|
$ |
479,765 |
|
|
$ |
980,600 |
|
Cost of revenue |
|
255,761 |
|
|
|
269,356 |
|
|
|
|
Amortization of purchased intangible assets |
|
5,568 |
|
|
|
10,708 |
|
|
|
|
Gross profit |
|
239,506 |
|
|
|
199,701 |
|
|
|
439,207 |
|
Research and development and engineering |
|
37,805 |
|
|
|
58,342 |
|
|
|
|
Selling, general and administrative |
|
76,316 |
|
|
|
60,034 |
|
|
|
|
Amortization of purchased intangible assets |
|
9,772 |
|
|
|
17,705 |
|
|
|
|
Restructuring, acquisition, and related costs |
|
1,082 |
|
|
|
12,448 |
|
|
|
|
Segment operating income |
|
114,531 |
|
|
|
51,172 |
|
|
|
165,703 |
|
Unallocated costs |
|
— |
|
|
|
— |
|
|
|
(71,691 |
) |
Interest income (expense), net |
|
— |
|
|
|
— |
|
|
|
(21,472 |
) |
Other income (expense), net |
|
— |
|
|
|
— |
|
|
|
(2,898 |
) |
Income before income taxes |
$ |
114,531 |
|
|
$ |
51,172 |
|
|
$ |
69,642 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2024 |
|
|
Automation Enabling Technologies |
|
|
Medical Solutions |
|
|
Total |
|
Revenue |
$ |
490,620 |
|
|
$ |
458,625 |
|
|
$ |
949,245 |
|
Cost of revenue |
|
249,364 |
|
|
|
260,176 |
|
|
|
|
Amortization of purchased intangible assets |
|
6,281 |
|
|
|
8,492 |
|
|
|
|
Gross profit |
|
234,975 |
|
|
|
189,957 |
|
|
|
424,932 |
|
Research and development and engineering |
|
39,026 |
|
|
|
57,110 |
|
|
|
|
Selling, general and administrative |
|
75,423 |
|
|
|
53,798 |
|
|
|
|
Amortization of purchased intangible assets |
|
11,207 |
|
|
|
14,587 |
|
|
|
|
Restructuring, acquisition, and related costs |
|
2,916 |
|
|
|
6,930 |
|
|
|
|
Segment operating income |
|
106,403 |
|
|
|
57,532 |
|
|
|
163,935 |
|
Unallocated costs |
|
— |
|
|
|
— |
|
|
|
(53,351 |
) |
Interest income (expense), net |
|
— |
|
|
|
— |
|
|
|
(31,489 |
) |
Other income (expense), net |
|
— |
|
|
|
— |
|
|
|
(29 |
) |
Income before income taxes |
$ |
106,403 |
|
|
$ |
57,532 |
|
|
$ |
79,066 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2023 |
|
|
Automation Enabling Technologies |
|
|
Medical Solutions |
|
|
Total |
|
Revenue |
$ |
499,220 |
|
|
$ |
382,442 |
|
|
$ |
881,662 |
|
Cost of revenue |
|
257,377 |
|
|
|
206,550 |
|
|
|
|
Amortization of purchased intangible assets |
|
7,045 |
|
|
|
5,105 |
|
|
|
|
Gross profit |
|
234,798 |
|
|
|
170,787 |
|
|
|
405,585 |
|
Research and development and engineering |
|
43,024 |
|
|
|
49,440 |
|
|
|
|
Selling, general and administrative |
|
72,860 |
|
|
|
49,227 |
|
|
|
|
Amortization of purchased intangible assets |
|
12,942 |
|
|
|
7,503 |
|
|
|
|
Restructuring, acquisition, and related costs |
|
9,691 |
|
|
|
1,359 |
|
|
|
|
Segment operating income |
|
96,281 |
|
|
|
63,258 |
|
|
|
159,539 |
|
Unallocated costs |
|
— |
|
|
|
— |
|
|
|
(49,043 |
) |
Interest income (expense), net |
|
— |
|
|
|
— |
|
|
|
(25,818 |
) |
Other income (expense), net |
|
— |
|
|
|
— |
|
|
|
(930 |
) |
Income before income taxes |
$ |
96,281 |
|
|
$ |
63,258 |
|
|
$ |
83,748 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
Depreciation and Amortization Expenses |
|
|
|
|
|
|
|
|
Automation Enabling Technologies |
$ |
22,441 |
|
|
$ |
23,873 |
|
|
$ |
26,680 |
|
Medical Solutions |
|
37,960 |
|
|
|
29,818 |
|
|
|
18,578 |
|
Unallocated |
|
1,531 |
|
|
|
1,872 |
|
|
|
1,354 |
|
Total |
$ |
61,932 |
|
|
$ |
55,563 |
|
|
$ |
46,612 |
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
2025 |
|
|
2024 |
|
Accounts Receivable |
|
|
|
|
|
Automation Enabling Technologies |
$ |
76,685 |
|
|
$ |
70,829 |
|
Medical Solutions |
|
108,195 |
|
|
|
80,197 |
|
Total accounts receivable |
$ |
184,880 |
|
|
$ |
151,026 |
|
Inventories |
|
|
|
|
|
Automation Enabling Technologies |
$ |
110,205 |
|
|
$ |
89,009 |
|
Medical Solutions |
|
78,079 |
|
|
|
55,597 |
|
Total inventories |
$ |
188,284 |
|
|
$ |
144,606 |
|
Total segment assets |
$ |
373,164 |
|
|
$ |
295,632 |
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
2025 |
|
|
2024 |
|
Total Assets |
|
|
|
|
|
Total segment assets |
$ |
373,164 |
|
|
$ |
295,632 |
|
Cash and cash equivalents |
|
380,871 |
|
|
|
113,989 |
|
Prepaid income taxes and income taxes receivable |
|
9,382 |
|
|
|
8,076 |
|
Prepaid expenses and other current assets |
|
19,184 |
|
|
|
15,951 |
|
Property, plant and equipment, net |
|
118,491 |
|
|
|
113,135 |
|
Operating lease assets |
|
41,697 |
|
|
|
42,908 |
|
Deferred tax assets |
|
27,381 |
|
|
|
22,887 |
|
Other assets |
|
8,812 |
|
|
|
5,991 |
|
Intangible assets, net |
|
180,776 |
|
|
|
185,844 |
|
Goodwill |
|
647,348 |
|
|
|
584,098 |
|
Total |
$ |
1,807,106 |
|
|
$ |
1,388,511 |
|
|