Discontinued operations (Tables)

12 Months Ended

Dec. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations

The Company recognized a gain on disposal of SAVSU, calculated as follows:

(In thousands)
Cash proceeds received from Buyer	$	23,276
Indemnity holdback	2,500
Net price adjustment(1)	219
Costs to sell	(1,509)
Retention bonus paid by Company(2)	(541)
Total proceeds	23,945
Less: SAVSU carrying basis as of October 6, 2025	13,621
Net gain on disposal	$	10,324

(1) As defined within the SAVSU Purchase Agreement, the final purchase price was subject to working capital adjustments upon the close of the disposal.

(2) As defined within the SAVSU Purchase Agreement, the Company agreed to provide a cash bonus to the divested employees with the condition that such employees remain with SAVSU for 90 days subsequent to the closing of the sale.

The table below summarizes the major classes of assets and liabilities of discontinued operations, which are summarized separately in the Consolidated Balance Sheets:

	December 31, 2024
(In thousands)	SAVSU
Cash and cash equivalents	$	3,848
Accounts receivable, net	692
Prepaid expenses and other current assets	44
Total current assets, discontinued operations	4,584
Assets held for rent, net	6,103
Property and equipment, net	111
Operating lease right-of-use assets, net	121
Long-term deposits and other assets	5
Intangible assets, net	3,994
Goodwill	3,717
Total assets, discontinued operations	18,635
Accounts payable	$	213
Accrued expenses and other current liabilities	328
Sales taxes payable	23
Lease liabilities, operating, current portion	52
Total current liabilities, discontinued operations	616
Lease liabilities, operating, long-term	78
Total liabilities, discontinued operations	$	694

The key components of income (loss) from discontinued operations were as follows:

	December 31, 2025
(In thousands)	SAVSU
Revenue	$	5,977
Cost of revenue	4,235
Gross profit	1,742
Operating expenses	(4,418)
Intangible asset amortization	(118)
Other income, net	5
Gain on disposal	10,324
Income before income taxes	7,535
Income tax expense	—
Income from discontinued operations, net of income taxes	$	7,535

	December 31, 2024
(In thousands)	Global Cooling		SciSafe		CBS		SAVSU		Total
Revenue	$	7,157	$	18,440	$	12,141	$	7,607	$	45,345
Cost of revenue	8,389		16,357		10,600		6,346		41,692
Gross profit	(1,232)		2,083		1,541		1,261		3,653
Operating expenses	(9,418)		(11,467)		(4,967)		(3,753)		(29,605)
Intangible asset amortization	—		(764)		—		(160)		(924)
Other (expense) income, net	(25)		(183)		(110)		50		(268)
(Loss) gain on disposal	(8,897)		28,139		(3,365)		—		15,877
(Loss) income before income taxes	(19,572)		17,808		(6,901)		(2,602)		(11,267)
Income tax expense	10		122		—		—		132
(Loss) income from discontinued operations, net of income taxes	$	(19,582)	$	17,686	$	(6,901)	$	(2,602)	$	(11,399)

	December 31, 2023
(In thousands)	Global Cooling		SciSafe		CBS		SAVSU		Total
Revenue	$	35,826	$	18,014	$	13,576	$	7,839	$	75,255
Cost of revenue	36,682		17,283		12,632		5,553		72,150
Gross profit	(856)		731		944		2,286		3,105
Operating expenses	(20,162)		(5,316)		(7,153)		(8,362)		(40,993)
Intangible asset impairment charges	(7,175)		—		(8,310)		—		(15,485)
Intangible asset amortization	(131)		(907)		(623)		(160)		(1,821)
Other expense, net	(90)		(100)		(214)		(14)		(418)
Loss before income taxes	(28,414)		(5,592)		(15,356)		(6,250)		(55,612)
Income tax expense	4		180		9		40		233
Loss from discontinued operations, net of income taxes	$	(28,418)	$	(5,772)	$	(15,365)	$	(6,290)	$	(55,845)

Below is a summary of incurred depreciation, amortization, interest expenses, capital expenditures, and other noncash related costs for discontinued operations:

	December 31, 2025
(In thousands)	SAVSU
Depreciation	$	1,404
Amortization	1,127
Stock-based compensation	1,701
Interest expense, net	2
Capital expenditures	946

	December 31, 2024
(In thousands)	Global Cooling		SciSafe		CBS		SAVSU		Total
Depreciation	$	—	$	2,402	$	4	$	2,112	$	4,518
Amortization	—		764		—		1,506		2,270
Stock-based compensation	4,191		6,410		3,790		1,231		15,622
Interest (expense) income, net	(42)		(50)		(114)		47		(159)
Capital expenditures	—		2,200		720		2,129		5,049

	December 31, 2023
(In thousands)	Global Cooling		SciSafe		CBS		SAVSU		Total
Depreciation	$	397	$	2,636	$	471	$	2,947	$	6,451
Amortization	131		907		623		1,506		3,167
Stock-based compensation	4,734		2,759		2,503		3,346		13,342
Interest expense, net	131		13		219		44		407
Capital expenditures	—		4,659		750		5,353		10,762