Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 27, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Changes in Goodwill

The following table summarizes changes in goodwill during the six months ended June 27, 2025 (in thousands):

	Amount
Balance at beginning of the period	$	584,098
Goodwill acquired from Keonn acquisition		44,214
Effect of foreign exchange rate changes		20,781
Balance at end of the period	$	649,093

Goodwill by Reportable Segment

Goodwill by reportable segment as of June 27, 2025 was as follows (in thousands):

	Reportable Segment
	Automation Enabling Technologies			Medical Solutions			Total
Goodwill	$	447,763		$	352,559		$	800,322
Accumulated impairment of goodwill		(119,507	)		(31,722	)		(151,229	)
Total	$	328,256		$	320,837		$	649,093

Goodwill by reportable segment as of December 31, 2024 was as follows (in thousands):

	Reportable Segment
	Automation Enabling Technologies			Medical Solutions			Total
Goodwill	$	439,980		$	295,347		$	735,327
Accumulated impairment of goodwill		(119,507	)		(31,722	)		(151,229	)
Total	$	320,473		$	263,625		$	584,098

Intangible Assets

Intangible assets as of June 27, 2025 and December 31, 2024, respectively, are summarized as follows (in thousands):

	June 27, 2025							December 31, 2024
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Amortizable intangible assets:
Patents and developed technologies	$	236,374	$	(172,760	)	$	63,614	$	218,867	$	(159,041	)	$	59,826
Customer relationships		296,698		(177,267	)		119,431		265,156		(158,938	)		106,218
Trademarks and trade names		25,352		(17,794	)		7,558		23,367		(16,594	)		6,773
Amortizable intangible assets		558,424		(367,821	)		190,603		507,390		(334,573	)		172,817
Non-amortizable intangible assets:
Trade names		13,027		—			13,027		13,027		—			13,027
Total intangible assets	$	571,451	$	(367,821	)	$	203,630	$	520,417	$	(334,573	)	$	185,844

Amortization Expense of Intangible Assets

Amortization expense was as follows (in thousands):

	Three Months Ended				Six Months Ended
	June 27,		June 28,		June 27,		June 28,
	2025		2024		2025		2024
Amortization expense – cost of revenue	$	4,220	$	3,685	$	7,781	$	7,377
Amortization expense – operating expenses		6,871		6,907		12,425		12,657
Total amortization expense	$	11,091	$	10,592	$	20,206	$	20,034

Estimated Amortization Expense

As of June 27, 2025, estimated amortization expense for each of the five succeeding years and thereafter was as follows (in thousands):

Year Ending December 31,	Cost of Revenue		Operating Expenses		Total
2025 (remainder of year)	$	8,517	$	13,889	$	22,406
2026		15,057		23,003		38,060
2027		12,128		19,131		31,259
2028		10,318		16,076		26,394
2029		7,446		12,455		19,901
Thereafter		10,148		42,435		52,583
Total	$	63,614	$	126,989	$	190,603