Goodwill and Acquisition-Related Intangibles (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Carrying Amount of Goodwill

There was no change in the carrying amount in the six months ended June 30, 2024. Goodwill, net, as of June 30, 2024 and December 31, 2023 by reporting unit was as follows:

	June 30, 2024		December 31, 2023
	(in thousands)
Goodwill, net:
Laboratory services	$	—	$	—
Therapeutic development		22,055		22,055
Total	$	22,055	$	22,055

Summaries of Goodwill and Acquisitions-Related Intangibles Balances

Summaries of intangible asset balances as of June 30, 2024 and December 31, 2023 were as follows:

	Weighted-Average Amortization Period	June 30, 2024			December 31, 2023
		(in thousands)
Laboratory Services:
Royalty-free technology	10 Years	$	5,091		$	5,211
Less: accumulated amortization			(1,612	)		(1,390	)
Royalty-free technology, net			3,479			3,821
Customer Relationships	13 Years		83,092			83,119
Less: accumulated amortization			(15,827	)		(12,586	)
Customer relationships, net			67,265			70,533
Trade name	8 Years		3,790			3,790
Less: accumulated amortization			(1,154	)		(906	)
Trade name, net			2,636			2,884
In-place lease intangible assets	5 Years		360			360
Less: accumulated amortization			(151	)		(116	)
In-place lease intangible assets, net			209			244
Laboratory information system platform	5 Years		1,860			1,860
Less: accumulated amortization			(1,085	)		(899	)
Laboratory information system platform, net			775			961
Purchased patent	10 Years		28			28
Less: accumulated amortization			(9	)		(8	)
Purchased patent, net			19			20
Total			74,383			78,463
Therapeutic Development:
In-process research & development	n/a		64,590			64,590
Total			64,590			64,590
Total intangible assets, net		$	138,973		$	143,053

Summary of Annual Amortization Expense For Acquisition-Related Intangibles

Based on the carrying value of finite-lived intangible assets recorded as of June 30, 2024, and assuming no subsequent impairment of the underlying assets, the annual amortization expense for intangible assets is expected to be as follows:

	Amounts
	(in thousands)
Year Ending December 31,
2024 (remaining 6 months)	$	3,979
2025		7,959
2026		7,657
2027		7,198
2028		7,163
2029		6,906
Thereafter		33,521
Total	$	74,383