3 unchanged sentences
A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of our annual or interim financial statements will not be prevented or detected on a timely basis.
−Removed: Based on our updated evaluation of the effectiveness of internal control over financial reporting under the Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission, and in light of the material weaknesses discussed above, our management continued to conclude that our internal control over financing reporting was not effective at the reasonable assurance level as of June 30, 2025.
+Added: Based on our updated evaluation of the effectiveness of internal control over financial reporting under the Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission, and in light of the material weaknesses discussed above, our management continued to conclude that our internal control over financing reporting was not effective at the reasonable assurance level as of September 30, 2025.
Evaluation of Disclosure Controls and Procedures
2 unchanged sentences
Our disclosure controls and procedures are designed to provide a reasonable assurance of achieving their objectives.
−Removed: Under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, we conducted an evaluation of the effectiveness of our disclosure controls and procedures as of June 30, 2025.
−Removed: Because our efforts to remediate the material weaknesses in our internal control over financial reporting are still underway and we have not had a sufficient period of time to test the operating effectiveness of our internal control over financial reporting, which we view as an integral part of our disclosure controls and procedures, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective at a reasonable assurance level as of June 30, 2025.
+Added: Under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, we conducted an evaluation of the effectiveness of our disclosure controls and procedures as of September 30, 2025.
+Added: Because our efforts to remediate the material weaknesses in our internal control over financial reporting are still underway and we have not had a sufficient period of time to test the operating effectiveness of our internal control over financial reporting, which we view as an integral part of our disclosure controls and procedures, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective at a reasonable assurance level as of September 30, 2025.
Nevertheless, based on a number of factors, including the performance of additional procedures by management designed to ensure the reliability of our financial reporting, we believe that the Consolidated Financial Statements and Notes to Consolidated Financial Statements in this Quarterly Report on Form 10-Q fairly present, in all material respects, our financial position, results of operations, and cash flows as of the dates, and for the periods, presented, in conformity with U.S.
2 unchanged sentences
Our remediation activities undertaken to date and additional planned actions include, but are not limited to, the efforts summarized below:
−Removed: • we have hired a Vice President, SOX Transformation and completed the hiring of personnel for our internal SOX Transformation team.
+Added: • we hired a Vice President, SOX Transformation and completed the hiring of personnel for our internal SOX Transformation team.
This team is actively:
6 unchanged sentences
• we implemented new software solutions to automate key manual inventory valuation processes and outputs;
−Removed: • we have completed the design of new controls and will continue to implement additional compensating controls throughout the remainder of fiscal year 2025;
+Added: • we completed the design and implementation of new controls and will continue to implement additional compensating controls throughout the remainder of fiscal year 2025;
• we have brought additional internal systems into the scope of our internal control environment to reduce reliance on manual processes and controls;
2 unchanged sentences
• we continue to supplement our team with accounting consultants to provide additional depth and breadth in our period end closes, financial reporting capabilities, and internal controls compliance until we have filled key additions or vacancies on our team with qualified personnel for a sufficient period of overlap to ensure successful transition of responsibilities.
−Removed: We expect to continue our efforts to remediate the Inventory Valuation MW and Accelerator Revenue MW through fiscal year 2025.
+Added: We expect to continue our efforts to remediate the Inventory Valuation MW and Accelerator Revenue MW through the remainder of fiscal year 2025.
We believe that the implementation of the above steps will allow us to address the deficient controls within our internal control environment, which will facilitate the remediation of the Inventory Valuation MW and Accelerator Revenue MW.
3 unchanged sentences
Changes in Internal Control over Financial Reporting
−Removed: Other than the changes outlined above to remediate the material weaknesses, there have been no changes in our internal control over financial reporting during the quarter ended June 30, 2025 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
+Added: As permitted under the SEC’s guidance regarding newly acquired businesses, management has elected to exclude the operations of Akoya, which we acquired on July 8, 2025, from its evaluation of internal control over financial reporting for the quarter ended September 30, 2025.
+Added: Akoya represented approximately 48% of our consolidated total assets and 18% of our consolidated revenues as of and for the three months ended September 30, 2025.
+Added: While we are in the process of integrating Akoya into our internal controls over financial reporting, we intend to rely on the one-year transition period allowed under the SEC's guidance, and will include Akoya in our annual internal control assessment beginning with our Form 10-K for the year ending December 31, 2026.
+Added: Other than the changes outlined above to remediate the material weaknesses, there have been no changes in our internal control over financial reporting during the quarter ended September 30, 2025 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
PART II — OTHER INFORMATION
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.