Meridian Bioscience (VIVO) 10-Q 6 May 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Mar. 31, 2022	Apr. 30, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Entity Interactive Data Current	Yes
Document Transition Report	false
Document Period End Date	Mar. 31, 2022
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Registrant Name	MERIDIAN BIOSCIENCE, INC.
Entity Central Index Key	0000794172
Entity File Number	0-14902
Entity Tax Identification Number	31-0888197
Entity Incorporation, State or Country Code	OH
Current Fiscal Year End Date	--09-30
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Address, Address Line One	3471 River Hills Drive
Entity Address, City or Town	Cincinnati
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45244
City Area Code	513
Local Phone Number	271-3700
Trading Symbol	VIVO
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common Stock
Entity Common Stock, Shares Outstanding		43,575,133

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
NET REVENUES	$ 111,231	$ 85,264	$ 199,572	$ 178,181
COST OF SALES	42,754	27,492	81,936	58,861
GROSS PROFIT	68,477	57,772	117,636	119,320
OPERATING EXPENSES
Research and development	5,691	6,065	11,885	11,716
Selling and marketing	7,514	6,540	15,255	13,561
General and administrative	18,555	12,925	33,215	24,863
Acquisition-related costs	68	0	68	0
Selected legal costs	508	1,030	789	2,257
Change in fair value of acquisition consideration	0	(2,989)	0	(1,942)
Total operating expenses	32,336	23,571	61,212	50,455
OPERATING INCOME	36,141	34,201	56,424	68,865
OTHER INCOME (EXPENSE)
Interest income	2	6	3	15
Interest expense	(341)	(472)	(713)	(1,006)
RADx grant income	0	200	0	1,000
Other, net	733	(883)	572	(1,574)
Total other income (expense), net	394	(1,149)	(138)	(1,565)
EARNINGS BEFORE INCOME TAXES	36,535	33,052	56,286	67,300
INCOME TAX PROVISION	7,783	6,750	12,194	14,219
NET EARNINGS	$ 28,752	$ 26,302	$ 44,092	$ 53,081
Earnings Per Share Data:
BASIC EARNINGS PER COMMON SHARE	$ 0.66	$ 0.61	$ 1.01	$ 1.23
DILUTED EARNINGS PER COMMON SHARE	$ 0.65	$ 0.60	$ 1	$ 1.21
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC	43,549	43,244	43,495	43,171
EFFECT OF DILUTIVE STOCK OPTIONS AND RESTRICTED SHARE UNITS	713	878	617	789
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED	44,262	44,122	44,112	43,960
ANTI-DILUTIVE SECURITIES:
Common share options and restricted share units	186	166	480	169

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
NET EARNINGS	$ 28,752	$ 26,302	$ 44,092	$ 53,081
Other comprehensive income (loss):
Foreign currency translation adjustment	(1,820)	79	(1,878)	3,380
Reclassification of realized gain on cash flow hedge	(935)	0	(935)	0
Unrealized gain on cash flow hedge	1,435	439	1,985	460
Reclassification of amortization of gain on cash flow hedge	0	(77)	0	(154)
Income taxes related to items of other comprehensive income (loss)	(122)	(80)	(257)	(66)
Other comprehensive (loss) income, net of tax	(1,442)	361	(1,085)	3,620
COMPREHENSIVE INCOME	$ 27,310	$ 26,663	$ 43,007	$ 56,701

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings	$ 44,092	$ 53,081
Non-cash items included in net earnings:
Depreciation of property, plant and equipment	3,369	3,072
Amortization of intangible assets	4,966	4,363
Stock-based compensation	3,389	2,291
Deferred income taxes	1,446	(777)
Change in fair value of acquisition consideration	0	(1,942)
Change in the following:
Accounts receivable	(5,918)	(5,267)
Inventories	4,913	(12,185)
Prepaid expenses and other current assets	1,685	1,440
Accounts payable and accrued expenses	5,273	77
Income taxes payable	3,332	(2,698)
Other, net	(575)	36
Net cash provided by operating activities	65,972	41,491
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment	(3,179)	(11,955)
Payment of acquisition consideration holdback	0	(5,000)
Net cash used in investing activities	(3,179)	(16,955)
CASH FLOWS FROM FINANCING ACTIVITIES
Payment on revolving credit facility	(35,000)	(18,824)
Payment of deferred financing costs	(404)	0
Proceeds from exercise of stock options	735	2,852
Employee taxes paid upon stock swap option exercises and net share settlement of restricted share units	(801)	0
Net cash used in financing activities	(35,470)	(15,972)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(607)	1,296
Net Increase in Cash and Cash Equivalents	26,716	9,860
Cash and Cash Equivalents at Beginning of Period	49,771	53,514
Cash and Cash Equivalents at End of Period	$ 76,487	$ 63,374

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Sep. 30, 2021
CURRENT ASSETS
Cash and cash equivalents	$ 76,487	$ 49,771
Accounts receivable, less allowances of $1,122 and $1,078, respectively	59,218	53,568
Inventories, net	70,926	76,842
Prepaid expenses and other current assets	10,929	12,626
Total current assets	217,560	192,807
PROPERTY, PLANT AND EQUIPMENT, at Cost
Land	983	989
Buildings and improvements	33,043	32,765
Machinery, equipment and furniture	82,095	78,410
Construction in progress	8,100	9,991
Subtotal	124,221	122,155
Less: accumulated depreciation and amortization	80,848	78,941
Property, plant and equipment, net	43,373	43,214
OTHER ASSETS
Goodwill	114,039	114,668
Other intangible assets, net	79,058	84,151
Right-of-use assets, net	7,517	5,786
Deferred income taxes	8,677	8,731
Other assets	1,586	365
Total other assets	210,877	213,701
TOTAL ASSETS	471,810	449,722
CURRENT LIABILITIES
Accounts payable	15,682	11,701
Accrued employee compensation costs	18,131	16,853
Accrued product recall costs	3,375	5,100
Acquisition consideration	1,000	0
Current operating lease obligations	2,134	1,990
Current government grant obligations	675	638
Other accrued expenses	8,533	7,027
Income taxes payable	6,935	3,848
Total current liabilities	56,465	47,157
NON-CURRENT LIABILITIES
Acquisition consideration	0	1,000
Post-employment benefits	2,125	2,253
Long-term operating lease obligations	5,579	3,932
Long-term debt	25,000	60,000
Government grant obligations	4,913	5,176
Long-term income taxes payable	469	469
Deferred income taxes	2,444	1,055
Other non-current liabilities	183	378
Total non-current liabilities	40,713	74,263
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY
Preferred stock, no par value; 1,000,000 shares authorized; none issued
Common shares, no par value; 71,000,000 shares authorized, 43,570,530 and 43,361,898 shares issued and outstanding, respectively
Additional paid-in capital	150,985	147,403
Treasury stock, at cost; 9,655 shares	(259)	0
Retained earnings	224,793	180,701
Accumulated other comprehensive income (loss)	(887)	198
Total shareholders' equity	374,632	328,302
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 471,810	$ 449,722

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Sep. 30, 2021
Statement of Financial Position [Abstract]
Allowances for accounts receivable	$ 1,122	$ 1,078
Preferred stock, par value	$ 0	$ 0
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	71,000,000	71,000,000
Common stock, shares issued	43,570,530	43,361,898
Common Stock, shares, outstanding	43,570,530	43,361,898
Treasury Stock ,Shares	9,655

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Shares [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning balance at Sep. 30, 2020	$ 247,629		$ 140,195	$ 0	$ 109,294	$ (1,860)
Beginning balance, Shares at Sep. 30, 2020		43,069		0
Conversion of restricted share units and exercise of stock options	2,852		2,852
Conversion of restricted share units and exercise of stock options, Shares		260
Stock compensation expense	2,291		2,291
Net earnings	53,081				53,081
Foreign currency translation adjustment	3,380					3,380
Hedging activity, net of tax	240					240
Ending balance at Mar. 31, 2021	309,473		145,338	$ 0	162,375	1,760
Ending balance, Shares at Mar. 31, 2021		43,329		0
Beginning balance at Dec. 31, 2020	278,867		141,395	$ 0	136,073	1,399
Beginning balance, Shares at Dec. 31, 2020		43,124		0
Conversion of restricted share units and exercise of stock options	2,893		2,893
Conversion of restricted share units and exercise of stock options, Shares		205
Stock compensation expense	1,050		1,050
Net earnings	26,302				26,302
Foreign currency translation adjustment	79					79
Hedging activity, net of tax	282					282
Ending balance at Mar. 31, 2021	309,473		145,338	$ 0	162,375	1,760
Ending balance, Shares at Mar. 31, 2021		43,329		0
Beginning balance at Sep. 30, 2021	328,302		147,403	$ 0	180,701	198
Beginning balance, Shares at Sep. 30, 2021		43,362		0
Conversion of restricted share units and exercise of stock options	(66)		193	$ (259)
Conversion of restricted share units and exercise of stock options, Shares		208		(10)
Stock compensation expense	3,389		3,389
Net earnings	44,092				44,092
Foreign currency translation adjustment	(1,878)					(1,878)
Hedging activity, net of tax	793					793
Ending balance at Mar. 31, 2022	374,632		150,985	$ (259)	224,793	(887)
Ending balance, Shares at Mar. 31, 2022		43,570		(10)
Beginning balance at Dec. 31, 2021	345,219		148,623	$ 0	196,041	555
Beginning balance, Shares at Dec. 31, 2021		43,514		0
Conversion of restricted share units and exercise of stock options	617		876	$ (259)
Conversion of restricted share units and exercise of stock options, Shares		56		(10)
Stock compensation expense	1,486		1,486
Net earnings	28,752				28,752
Foreign currency translation adjustment	(1,820)					(1,820)
Hedging activity, net of tax	378					378
Ending balance at Mar. 31, 2022	$ 374,632		$ 150,985	$ (259)	$ 224,793	$ (887)
Ending balance, Shares at Mar. 31, 2022		43,570		(10)

Nature of Business

Nature of Business	6 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	1. Nature of Business Meridian Bioscience, Inc. (“Meridian” or “the Company”) was formed in 1976 and functions as a fully-integrated life science company with principal businesses in: (i) the development, manufacture, sale and distribution of diagnostic testing systems and kits, primarily for certain gastrointestinal and respiratory infectious diseases, and elevated blood lead levels; and (ii) the manufacture and distribution of bulk antigens, antibodies, immunoassay blocking reagents, various Polymerase Chain Reaction (“PCR”) and isothermal amplification master mixes, and bioresearch reagents used by other diagnostic manufacturers and researchers. Our reportable segments are Diagnostics and Life Science. The Diagnostics segment consists of: (i) manufacturing operations for infectious disease products in Cincinnati, Ohio; Quebec City, Canada; and Modi’in, Israel; (ii) manufacturing operations for blood chemistry products in Billerica, Massachusetts; and (iii) the sale and distribution of diagnostics products domestically and abroad. This segment’s products are used by hospitals, reference labs and physician offices to detect infectious diseases and elevated lead levels in blood. The Life Science segment consists of: (i) manufacturing operations in Memphis, Tennessee; Boca Raton, Florida; London, England; and Luckenwalde, Germany;

Basis of Presentation

Basis of Presentation	6 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	2. Basis of Presentation The Condensed Consolidated Financial Statements are unaudited and are prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) for interim financial information, and the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of Management, the Condensed Consolidated Financial Statements include all normal adjustments and disclosures necessary to present fairly the Company’s consolidated financial position as of March 31, 2022, and the results of its operations and shareholders’ equity for the three and six months ended March 31, 2022 and 2021, and cash flows for the six months ended March 31, 2022 and 2021. These Condensed Consolidated Financial Statements should be read in conjunction with the audited consolidated financial statements and footnotes thereto included in the Company’s fiscal 2021 Annual Report on Form 10-K, It should be noted that the terms revenue and/or revenues are utilized throughout these notes to the Condensed Consolidated Financial Statements to indicate net revenue and/or net revenues. The consolidated results of operations for interim periods are not necessarily indicative of the results to be expected for the full fiscal year. The preparation of these Condensed Consolidated Financial Statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses during the period. Included within these estimates are those related to the ongoing impacts of the COVID-19

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	3. Significant Accounting Policies A summary of the Company’s significant accounting policies is included in Note 1 to the audited consolidated financial statements of the Company’s fiscal 2021 Annual Report on Form 10-K, (a) Recent Accounting Pronouncements – Pronouncements Adopted On October 1, 2021, the Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes 2019-12”), 2019-12 Pronouncements Issued but Not Yet Adopted as of March 31, 2022 In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting No other new accounting pronouncements recently adopted or issued had or are expected to have a material impact on the Condensed Consolidated Financial Statements. (b) Reclassifications – Certain reclassifications have been made to the prior year Condensed Consolidated Financial Statements to conform to the current year presentation. Such reclassifications had no impact on net earnings or shareholders’ equity.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	4. Revenue Recognition Revenue Disaggregation The following tables present our net revenues disaggregated by major geographic region, major product platform and disease state (Diagnostics segment only): Net Revenues by Reportable Segment & Geographic Region Three Months Ended March 31, Six Months Ended March 31, 2022 2021 Inc (Dec) 2022 2021 Inc (Dec) Diagnostics- Americas $ 33,551 $ 25,290 33 % $ 60,164 $ 48,824 23 % EMEA 7,113 6,071 17 % 13,206 12,101 9 % ROW 439 588 (25 )% 937 1,345 (30 ) Total Diagnostics 41,103 31,949 29 % 74,307 62,270 19 % Life Science- Americas 10,377 13,550 (23 )% 18,514 32,296 (43 ) EMEA 33,246 21,773 53 % 61,894 54,066 14 % ROW 26,505 17,992 47 % 44,857 29,549 52 % Total Life Science 70,128 53,315 32 % 125,265 115,911 8 % Consolidated $ 111,231 $ 85,264 30 % $ 199,572 $ 178,181 12 % Net Revenues by Product Platform/Type Three Months Ended March 31, Six Months Ended March 31, 2022 2021 Inc (Dec) 2022 2021 Inc (Dec) Diagnostics- Molecular assays $ 4,385 $ 4,395 — % $ 9,137 $ 8,985 2 % Non-molecular 36,718 27,554 33 % 65,170 53,285 22 % Total Diagnostics 41,103 31,949 29 % 74,307 62,270 19 % Life Science- Molecular reagents 40,334 37,752 7 % 71,822 83,776 (14 ) Immunological reagents 29,794 15,563 91 % 53,443 32,135 66 % Total Life Science 70,128 53,315 32 % 125,265 115,911 8 % Consolidated $ 111,231 $ 85,264 30 % $ 199,572 $ 178,181 12 % Net Revenues by Disease State (Diagnostics segment only) Three Months Ended March 31, Six Months Ended March 31, 2022 2021 Inc (Dec) 2022 2021 Inc (Dec) Diagnostics- Gastrointestinal assays $ 20,281 $ 15,666 29 % $ 41,900 $ 31,118 35 % Respiratory illness assays 9,491 3,686 157 % 15,871 8,492 87 % Blood chemistry assays 3,425 4,358 (21 ) 3,503 8,753 (60 ) Other 7,906 8,239 (4 ) 13,033 13,907 (6 ) Total Diagnostics $ 41,103 $ 31,949 29 % $ 74,307 $ 62,270 19 % Royalty Income Royalty income received from a third party related to sales of H. pylori in the three months ended March 31, 2022 and 2021, respectively, and $3,550 and $3,710 in the six months ended March 31, 2022 and 2021, respectively. Royalty income Reagent Rental Arrangements Revenue allocated to the lease elements of Reagent Rental arrangements totaled approximately $970 and $900 in the three months ended March 31, 2022 and 2021, respectively, and $1,725 and $1,780 in the six months ended March 31, 2022 and 2021, respectively. Such revenue is included as part of net revenues in our Condensed Consolidated Statements of Operations.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements To limit exposure to volatility in the LIBOR interest rate, the Company has entered into interest rate swap agreements, which effectively convert the variable interest rate on the outstanding revolving credit facility discussed in Note 12 to a fixed rate. The fair values of the interest rate swap agreements were determined by reference to a third-party valuation, which is considered a Level 2 input within the fair value hierarchy of valuation techniques, and totaled a n liability, as of March 31, 2022 and September 30, 2021, respectively . In , a $25,000 interest rate swap agreement was terminated during March 2022, resulting recorded in (expense), net during the three and six months ended March 31, 2022 As indicated in Note 6, we acquired the BreathTek business on July 31, 2021. The fair values of inventories acquired were valued using Level 2 inputs, which included data points that were observable, such as established values of comparable assets and historical sales information (market approach). Identifiable intangible assets, specifically the acquired customer relationships, were valued using Level 3 inputs, which are unobservable by nature, and included internal estimates of future cash flows and attrition rates (income approach). Significant increases (decreases) in any of those unobservable inputs, as of the date of the acquisition, in isolation would result in a significantly lower (higher) fair value measurement.

Business Combinations

Business Combinations	6 Months Ended
	Mar. 31, 2022
Business Combinations [Abstract]
Business Combinations	6. Business Combinations On July 31, 2021, we acquired the BreathTek business, a urea breath test for the detection of H. pylori holdback, which is recorded in acquisition consideration on the Condensed Consolidated Balance Sheets, to secure the selling party’s performance of certain post-closing obligations that is payable 15 months following the BreathTek acquisition date. As part of the acquisition, we acquired BreathTek inventories and assumed the customer relationships to supply the BreathTek product in North America. Giving effect to purchase adjustments made during the three months ended March 31, 2022 to increase the value of acquired inventories by approximately $100, the acquired inventories and customer relationships were valued on July 31, 2021 on a preliminary basis, $ and $ , respectively, with the useful life of the customer relationships estimated at . The Company’s consolidated results for the three and six months and $11,100, respectively, of net revenues from BreathTek product sales, which contributed approximate and $3,200, respectively, of net earnings. These results, which are reported as part of the Diagnostics segment, include amortization expense related to the customer relationships recorded in the purchase price allocation totaling and $960, during the three and six months ended March 31, 2022, respectively. The following table provides the unaudited consolidated pro forma results for the periods presented as if the BreathTek business had been acquired as of the beginning of fiscal 2021: Three Months Ended Six Months Ended 2022 2021 2022 2021 Net revenues $ 111,231 $ 91,033 $ 199,572 $ 188,857 Net earnings 28,752 28,099 44,092 56,052

Lead Testing Matters

Lead Testing Matters	6 Months Ended
	Mar. 31, 2022
Lead Testing Matters [Abstract]
Lead Testing Matters	7. Lead Testing Matters On September 1, 2021, the Company’s wholly owned subsidiary Magellan announced the expansion of a Class I voluntary recall of its LeadCare test kits for the detection of lead in blood, which it had initiated in May 2021. Customers generally run controls when they receive a new lot of product and report to us when the control results are outside of specified ranges. This process identified certain impacted test kit lots that could potentially underestimate blood lead levels when processing patient blood samples. Although it was initially believed that the root cause of the issue related to the plastic containers used for the treatment reagent, additional studies have indicated that the root cause relates to the third-party-sourced cardboard trays that hold the treatment reagent containers. Upon correction of the identified supplier issue, shipment of product resumed during February 2022. The Company continues to work closely with the FDA in its execution of the recall activities, which include notifications to customers and distributors, and providing instructions for the return of impacted test kits. The evaluation of the recall and the related notification process are ongoing. Of the approxima te estimated and accrued as of September 30, 2021 to cover the estimated costs of the recall, approxim at remains accrued and is reflected in the Condensed Consolidated Balance Sheet as of March 31, 2022. Anticipated recall-related costs, which primarily include product replacement and/or refund costs, mailing/shipping costs, attorneys’ fees, and other miscellaneous costs are estimated based upon the most recent information available. Information utilized in the accrual estimation process includes observable inputs such as customer on-hand As previously disclosed, on April 17, 2018, the Company’s wholly owned subsidiary Magellan received a subpoena from the U.S. Department of Justice (“DOJ”) regarding its LeadCare product line. The subpoena outlined documents to be produced, and the Company is cooperating with the DOJ in this matter. The Company maintains rigorous policies and procedures to promote compliance with applicable regulatory requirements and is working with the DOJ to promptly respond to the subpoena, including responding to additional information requests that have followed receipt of the subpoena in April 2018. The Company has executed tolling agreements to extend the statute of limitations. In March and April 2021, the DOJ issued two subpoenas calling for witnesses to testify before a federal grand jury related to this matter. The March 2021 subpoena was issued to a former employee of Magellan, and the April 2021 subpoena was issued to a current employee of Magellan. In September and October 2021, the DOJ issued additional subpoenas to individuals seeking testimony and documents in connection with its ongoing investigation. It is the Company’s understanding that multiple witnesses have testified before the federal grand jury and the DOJ’s investigation is ongoing. Discussions continue with the DOJ to explore resolution of the matter. The Company cannot predict when the investigation will be resolved, the outcome of the investigation, or its potential impact on the Company. Approximately

Cash and Cash Equivalents

Cash and Cash Equivalents	6 Months Ended
	Mar. 31, 2022
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	8. Cash and Cash Equivalents Cash and cash equivalents include the following: March 31, September 30, Institutional money market funds $ 1,020 $ 1,020 Cash on hand, unrestricted 75,467 48,751 Total $ 76,487 $ 49,771 Cash equivalents, institutional money market funds, are classified within Level 1 of the fair value hierarchy. Financial instruments classified as Level 1 are based on quoted market prices in active markets. The Company does not adjust the quoted market price for such financial instruments.

Inventories, Net

Inventories, Net	6 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventories, Net	9. Inventories, Net Inventories, net, are comprised of the following: March 31, September 30, Raw materials $ 15,140 $ 14,843 Work-in-process 22,296 25,072 Finished goods - instruments 2,596 2,260 Finished goods - kits and reagents 30,894 34,667 Total $ 70,926 $ 76,842

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, Net	6 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets, Net	10. Goodwill and Other Intangible Assets, Net Goodwill is not amortized but is subject to an annual impairment test. Goodwill has been assigned to reporting units within the reportable segments. The Company assesses the carrying value of goodwill annually, or more often if events or changes in circumstances indicate there may be impairment. Impairment testing is performed at a reporting unit level. During the six months ended March 31, 2022, goodwill decrease d $629, reflecting: (i) a $376 decrease in Diagnostics segment goodwill goodwill, primarily due to foreign currency translation A summary of other intangible assets, net, subject to amortization is as follows: March 31, 2022 September 30, 2021 Gross Accumulated Gross Accumulated Manufacturing technologies, core products and cell lines $ 62,385 $ 24,510 $ 62,416 $ 22,633 Trade names, licenses and patents 18,451 10,070 18,489 9,492 Customer lists, customer relationships and supply agreements 54,755 22,021 54,941 19,649 Non-compete 110 42 110 31 Total $ 135,701 $ 56,643 $ 135,956 $ 51,805 The aggregate amortization expense for these other intangible assets was $2,483 and $2,142 for the three months ended March 31, 2022 and 2021, respectively, and $4,966 and $4,363 for the six months ended March 31, 2022 and 2021, respectively. The estimated aggregate amortization expense for these other intangible assets for each of the fiscal years through fiscal 2027 is as follows: remainder of fiscal 2022 – $4,960, fiscal 2023 – $9,905, fiscal 2024 – $9,900, fiscal 2025 – $9,895, fiscal 2026 – $8,900, and fiscal 2027 – $6,645.

Leasing Arrangements

Leasing Arrangements	6 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leasing Arrangements	11. Leasing Arrangements The Company is party to several operating leases, the majority of which are related to office, warehouse and manufacturing space. The related operating lease assets and obligations are reflected within right-of-use The lease costs for these operating leases reflected in our Condensed Consolidated Statements of Operations, as well as the right-of-use Three Months Six Months 2022 2021 2022 2021 Lease costs within cost of sales $ 228 $ 198 $ 453 $ 356 Lease costs within operating expenses 358 387 746 761 Right-of-use 2,803 612 3,021 692 In addition, the Company periodically enters into other short-term operating leases, generally with an initial term of twelve months or less. These leases are not recorded on the Condensed Consolidated Balance Sheets and the related lease expense is immaterial for the three and six months ended March 31, 2022 and 2021. The Company often has options to renew lease terms, with the exercise of lease renewal options generally at the Company’s sole discretion. In addition, certain lease arrangements may be terminated prior to their original expiration date at our discretion. We evaluate renewal and termination options at the lease commencement date to determine if we are reasonably certain to exercise the option on the basis of economic factors. The discount rate implicit within our leases is generally not determinable and, therefore, the Company uses its incremental borrowing rate as the basis for its discount rate. The weighted average remaining lease term for our operating leases and the weighted average discount rate used to measure our operating leases were as follows: March 31, September 30, Weighted average remaining lease term 4.3 years 3.6 years Average discount rate 3.4 % 3.2 % Maturities of lease liabilities by fiscal year for the Company’s operating leases were as follows as of March 31, 2022: 2022 (represents remainder of fiscal year) $ 1,173 2023 2,183 2024 1,775 2025 1,474 2026 890 Thereafter 792 Total lease payments 8,287 Less amount of lease payments representing interest (574 ) Total present value of lease payments $ 7,713 Supplemental cash flow information related to the Company’s operating leases is as follows: Six Months Ended March 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,216 $ 1,072

Bank Credit Arrangements

Bank Credit Arrangements	6 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Bank Credit Arrangements	12. Bank Credit Arrangements The Company maintains a revolving credit facility with a commercial bank in an aggregate principal amount not to exceed $200,000, which expires in October 2026. Outstanding principal amounts bear interest at a fluctuating rate tied to, at the Company’s option, either the federal funds rate or LIBOR, resulting in an effective interest rate of 2.47% and 2.60% on the revolving credit facility during the three months ended March 31, 2022 and 2021, respectively, and 2.33% and 2.57% during the six months ended March 31, 2022 and 2021, respectively. In light of the interest being determined on a variable rate basis, the fair value of the borrowings under the revolving credit facility at both March 31, 2022 and September 30, 2021, approximates the current carrying value reflected in the Condensed Consolidated Balance Sheets of $25,000 and $60,000, respectively, which is consistent with a level 2 fair value measurement. The revolving credit facility is collateralized by the business assets of the Company’s U.S. subsidiaries and requires compliance with financial covenants that limit the amount of debt obligations and require a minimum level of coverage of fixed charges, as defined in the revolving credit facility agreement. As of March 31, 2022, the Company was in compliance with all covenants.

Contingent Obligations and Non-

Contingent Obligations and Non-Current Liabilities	6 Months Ended
	Mar. 31, 2022
Contingent Obligations and NonCurrent Liabilities Disclosure [Abstract]
Contingent Obligations and Non-Current Liabilities	13. Contingent Obligations and Non-Current In connection with the acquisition of Exalenz Bioscience Ltd. (“Exalenz”) in fiscal 2020, the Company assumed several Israeli government grant obligations. The repayment of the grants, along with interest incurred at varying stated fixed rates based on LIBOR at the time each grant was received, is not dictated by an established repayment schedule. Rather, the grants and related interest are required to be repaid using 3% of the net revenues generated from the sales of BreathID products, with the timing of repayment contingent upon the level and timing of such revenues. In addition, the grants have no collateral or financial covenant provisions generally associated with traditional borrowing instruments. These obligation amounts total $5,588 and $5,814 as of March 31, 2022 and September 30, 2021, respectively, bearing interest at rates ranging from 0.58% to 2.02%. The grant obligations are reflected in the Condensed Consolidated Balance Sheets as follows: March 31, 2022 September 30, 2021 Current liabilities $ 675 $ 638 Non-current $ 4,913 $ 5,176 Additionally, the Company has provided certain post-employment benefits to its former Chief Executive Officer, and these obligations total $1,589 and $1,676 at March 31, 2022 and September 30, 2021, respectively. In addition, the Company is required by the governments of certain foreign countries in which we operate to maintain a level of accruals for potential future severance indemnity. These accruals total $713 and $754 at March 31, 2022 and September 30, 2021, respectively.

National Institutes of Health C

National Institutes of Health Contracts	6 Months Ended
	Mar. 31, 2022
Research and Development [Abstract]
National Institutes of Health Contracts	14. National Institutes of Health Contracts In December 2020, the Company entered into a sub-award SARS-CoV-2 and $1,000 of which was received during the three and six months ended March 31, 2021, respectively, and is included within other income (expense ), net those periods On January 25, 2022, the Company entered into a contract to amend the Company’s second grant contract under the RADx initiative, which was originally effective February 1, 2021. The purpose of the grant is to support the Company’s manufacturing production scale-up COVID-19 panel 24 COVID-19 panel , in accordance with applicable accounting guidance.

Reportable Segment and Major Cu

Reportable Segment and Major Customers Information	6 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Reportable Segment and Major Customers Information	15. Reportable Segment and Major Customers Information The Company’s reportable segments maintain separate financial information for which results of operations are evaluated on a regular basis by the Company’s chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company records the direct costs of business operations to the reportable segments, including allocations for certain corporate-wide costs such as treasury management, human resources and technology, among others. Corporate provides certain executive management and administrative services to each reportable segment. These services primarily include executive oversight by non-segment-specific Reportable segment and corporate information for the interim periods is as follows: Diagnostics Life Science Corporate (1) Eliminations (2) Total Three Months Ended March 31, 2022 Net revenues - Third-party $ 41,103 $ 70,128 $ — $ — $ 111,231 Inter-segment 113 32 — (145 ) — Operating income (loss) 1,589 40,286 (5,752 ) 18 36,141 Goodwill (March 31, 2022) 94,528 19,511 — — 114,039 Other intangible assets, net (March 31, 2022) 79,056 2 — — 79,058 Total assets ( 355,754 116,090 — (34 ) 471,810 Three Months Ended March 31, 2021 Net revenues - Third-party $ 31,949 $ 53,315 $ — $ — $ 85,264 Inter-segment 116 91 — (207 ) — Operating income (loss) 2,641 36,025 (4,481 ) 16 34,201 Goodwill (September 30, 2021) 94,904 19,764 — — 114,668 Other intangible assets, net (September 30, 2021) 84,149 2 — — 84,151 Total assets (September 30, 2021) 339,208 110,536 — (22 ) 449,722 Six Months Ended March 31, 2022 Net revenues - Third-party $ 74,307 $ 125,265 $ — $ — $ 199,572 Inter-segment 147 87 — (234 ) — Operating (loss) (174 ) 66,888 (10,323 ) 33 56,424 Six Months Ended March 31, 2021 Net revenues - Third-party $ 62,270 $ 115,911 $ — $ — $ 178,181 Inter-segment 185 109 — (294 ) — Operating income (loss) 1,683 75,754 (8,600 ) 28 68,865 (1) Includes selected legal costs of $508 and $789 in the three and six months ended March 31, 2022, respectively, and $1,030 and $2,257 in the three and six months ended March 31, 2021, respectively. (2) Eliminations consist of inter-segment transactions. A reconciliation of reportable segment operating income (loss) to consolidated earnings before income taxes is as follows: Three Months Six Months 2022 2021 2022 2021 Operating income (loss): Diagnostics segment $ 1,589 $ 2,641 $ (174 ) $ 1,683 Life Science segment 40,286 36,025 66,888 75,754 Eliminations 18 16 33 28 Total segment operating income 41,893 38,682 66,747 77,465 Corporate operating expenses (5,752 ) (4,481 ) (10,323 ) (8,600 ) Interest income 2 6 3 15 Interest expense (341 ) (472 ) (713 ) (1,006 ) RADx initiative grant income — 200 — 1,000 Other, net 733 (883 ) 572 (1,574 ) Consolidated earnings before income taxes $ 36,535 $ 33,052 $ 56,286 $ 67,300 Transactions between reportable segments are accounted for at established intercompany prices for internal and management purposes, with all intercompany amounts eliminated in consolidation. Net revenues generated by the Company’s three major Diagnostics segment product families – gastrointestinal, respiratory illnesses and blood chemistry – accounted for 30% and 28% of consolidated net revenues during the three months ended March 31, 2022 and 2021, respectively, and Individual Diagnostics or Life Science segment customers, including their affiliates, comprising Three Months Six Months 2022 2021 2022 2021 Diagnostics Customer A 6 % 10 % 9 % 11 % Customer B 9 % 10 % 10 % 10 % Customer C 9 % 11 % 10 % 11 % Life Science Customer D 13 % 9 % 13 % 14 % Customer E 22 % 2 % 22 % 2 % During the three and six months ended March 31, 2022 and 2021, no individual Diagnostics segment customer accounted for 10% or more of consolidated net revenues, while one Life Science segment customer (Customer E above) comprised 14% of consolidated net revenues during both In addition, during both the three and six months ended March 31, 2022, the Life Science segment’s ten largest customers, including their affiliates, accounted for approximately 62% of Life Science segment net revenues and 39% of consolidated net revenues. During the three and six months ended March 31, 2021, the Life Science of consolidated net revenues. No Diagnostics or Life Science segment customer accounted for greater than 10% of consolidated accounts receivable as of March 31, 2022, while one Diagnostics segment customer (Customer B above) and one Life Science segment customer (Customer D above) accounted for approximately 12% and 10%, respectively, of consolidated accounts receivable as of September 30, 2021.

Income Taxes

Income Taxes	6 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	16. Income Taxes The effective rate for income taxes was approximately 21% and 22% for the three and six months ended March 31, 2022, respectively, and 20% and 21% for the three and six months ended March 31, 2021, respectively.

Subsequent Events

Subsequent Events	6 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	17. Subsequent Event On April 30, 2022, the Company acquired substantially all of the assets of EUPROTEIN Inc. of North Brunswick, New Jersey (“EUPROTEIN”) for $4,250 in cash, of which $3,750 was paid at closing, with the remainder held back for final closing adjustments. EUPROTEIN offers custom development and production of high-quality bioresearch reagents, with a particular focus on human and other mammalian proteins and recombinant monoclonal antibodies. The acquired assets of EUPROTEIN will be part of Meridian’s Life Science segment and are expected to help the Company accelerate its pipeline of new immunological reagents, while expanding recombinant capabilities.

Summary of Significant Accounti

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Recent Accounting Pronouncements	(a) Recent Accounting Pronouncements – Pronouncements Adopted On October 1, 2021, the Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes 2019-12”), 2019-12 Pronouncements Issued but Not Yet Adopted as of March 31, 2022 In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting No other new accounting pronouncements recently adopted or issued had or are expected to have a material impact on the Condensed Consolidated Financial Statements.
Reclassifications	(b) Reclassifications – Certain reclassifications have been made to the prior year Condensed Consolidated Financial Statements to conform to the current year presentation. Such reclassifications had no impact on net earnings or shareholders’ equity.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Mar. 31, 2022
Revenue Recognition [Abstract]
Summary of Disaggregation of Revenue	The following tables present our net revenues disaggregated by major geographic region, major product platform and disease state (Diagnostics segment only): Net Revenues by Reportable Segment & Geographic Region Three Months Ended March 31, Six Months Ended March 31, 2022 2021 Inc (Dec) 2022 2021 Inc (Dec) Diagnostics- Americas $ 33,551 $ 25,290 33 % $ 60,164 $ 48,824 23 % EMEA 7,113 6,071 17 % 13,206 12,101 9 % ROW 439 588 (25 )% 937 1,345 (30 ) Total Diagnostics 41,103 31,949 29 % 74,307 62,270 19 % Life Science- Americas 10,377 13,550 (23 )% 18,514 32,296 (43 ) EMEA 33,246 21,773 53 % 61,894 54,066 14 % ROW 26,505 17,992 47 % 44,857 29,549 52 % Total Life Science 70,128 53,315 32 % 125,265 115,911 8 % Consolidated $ 111,231 $ 85,264 30 % $ 199,572 $ 178,181 12 % Net Revenues by Product Platform/Type Three Months Ended March 31, Six Months Ended March 31, 2022 2021 Inc (Dec) 2022 2021 Inc (Dec) Diagnostics- Molecular assays $ 4,385 $ 4,395 — % $ 9,137 $ 8,985 2 % Non-molecular 36,718 27,554 33 % 65,170 53,285 22 % Total Diagnostics 41,103 31,949 29 % 74,307 62,270 19 % Life Science- Molecular reagents 40,334 37,752 7 % 71,822 83,776 (14 ) Immunological reagents 29,794 15,563 91 % 53,443 32,135 66 % Total Life Science 70,128 53,315 32 % 125,265 115,911 8 % Consolidated $ 111,231 $ 85,264 30 % $ 199,572 $ 178,181 12 % Net Revenues by Disease State (Diagnostics segment only) Three Months Ended March 31, Six Months Ended March 31, 2022 2021 Inc (Dec) 2022 2021 Inc (Dec) Diagnostics- Gastrointestinal assays $ 20,281 $ 15,666 29 % $ 41,900 $ 31,118 35 % Respiratory illness assays 9,491 3,686 157 % 15,871 8,492 87 % Blood chemistry assays 3,425 4,358 (21 ) 3,503 8,753 (60 ) Other 7,906 8,239 (4 ) 13,033 13,907 (6 ) Total Diagnostics $ 41,103 $ 31,949 29 % $ 74,307 $ 62,270 19 %

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Mar. 31, 2022
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Information	The following table provides the unaudited consolidated pro forma results for the periods presented as if the BreathTek business had been acquired as of the beginning of fiscal 2021: Three Months Ended Six Months Ended 2022 2021 2022 2021 Net revenues $ 111,231 $ 91,033 $ 199,572 $ 188,857 Net earnings 28,752 28,099 44,092 56,052

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	6 Months Ended
	Mar. 31, 2022
Cash and Cash Equivalents [Abstract]
Components of Cash and Cash Equivalents	Cash and cash equivalents include the following: March 31, September 30, Institutional money market funds $ 1,020 $ 1,020 Cash on hand, unrestricted 75,467 48,751 Total $ 76,487 $ 49,771

Inventories, Net (Tables)

Inventories, Net (Tables)	6 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Components of Inventories	Inventories, net, are comprised of the following: March 31, September 30, Raw materials $ 15,140 $ 14,843 Work-in-process 22,296 25,072 Finished goods - instruments 2,596 2,260 Finished goods - kits and reagents 30,894 34,667 Total $ 70,926 $ 76,842

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net (Tables)	6 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of acquired intangible assets subject to amortization	A summary of other intangible assets, net, subject to amortization is as follows: March 31, 2022 September 30, 2021 Gross Accumulated Gross Accumulated Manufacturing technologies, core products and cell lines $ 62,385 $ 24,510 $ 62,416 $ 22,633 Trade names, licenses and patents 18,451 10,070 18,489 9,492 Customer lists, customer relationships and supply agreements 54,755 22,021 54,941 19,649 Non-compete 110 42 110 31 Total $ 135,701 $ 56,643 $ 135,956 $ 51,805

Leasing Arrangements (Tables)

Leasing Arrangements (Tables)	6 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Schedule Of Condensed Income Statement Of Operation	The lease costs for these operating leases reflected in our Condensed Consolidated Statements of Operations, as well as the right-of-use Three Months Six Months 2022 2021 2022 2021 Lease costs within cost of sales $ 228 $ 198 $ 453 $ 356 Lease costs within operating expenses 358 387 746 761 Right-of-use 2,803 612 3,021 692
Schedule of weighted average remaining lease term and discount rate	The weighted average remaining lease term for our operating leases and the weighted average discount rate used to measure our operating leases were as follows: March 31, September 30, Weighted average remaining lease term 4.3 years 3.6 years Average discount rate 3.4 % 3.2 %
Schedule of maturities of lease liabilities	Maturities of lease liabilities by fiscal year for the Company’s operating leases were as follows as of March 31, 2022: 2022 (represents remainder of fiscal year) $ 1,173 2023 2,183 2024 1,775 2025 1,474 2026 890 Thereafter 792 Total lease payments 8,287 Less amount of lease payments representing interest (574 ) Total present value of lease payments $ 7,713
Schedule of supplemental cash flow information related to the companys operating lease liabilities	Supplemental cash flow information related to the Company’s operating leases is as follows: Six Months Ended March 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,216 $ 1,072

Contingent Obligations and No_2

Contingent Obligations and Non-Current Liabilities (Tables)	6 Months Ended
	Mar. 31, 2022
Contingent Obligations And Non current Liabilities Disclosure [Abstract]
Schedule of Government Grant Obligations Reflected in Condensed Consolidated Balance Sheet	The grant obligations are reflected in the Condensed Consolidated Balance Sheets as follows: March 31, 2022 September 30, 2021 Current liabilities $ 675 $ 638 Non-current $ 4,913 $ 5,176

Reportable Segment and Major _2

Reportable Segment and Major Customers Information (Tables)	6 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Reportable Segment Information	Reportable segment and corporate information for the interim periods is as follows: Diagnostics Life Science Corporate (1) Eliminations (2) Total Three Months Ended March 31, 2022 Net revenues - Third-party $ 41,103 $ 70,128 $ — $ — $ 111,231 Inter-segment 113 32 — (145 ) — Operating income (loss) 1,589 40,286 (5,752 ) 18 36,141 Goodwill (March 31, 2022) 94,528 19,511 — — 114,039 Other intangible assets, net (March 31, 2022) 79,056 2 — — 79,058 Total assets ( 355,754 116,090 — (34 ) 471,810 Three Months Ended March 31, 2021 Net revenues - Third-party $ 31,949 $ 53,315 $ — $ — $ 85,264 Inter-segment 116 91 — (207 ) — Operating income (loss) 2,641 36,025 (4,481 ) 16 34,201 Goodwill (September 30, 2021) 94,904 19,764 — — 114,668 Other intangible assets, net (September 30, 2021) 84,149 2 — — 84,151 Total assets (September 30, 2021) 339,208 110,536 — (22 ) 449,722 Six Months Ended March 31, 2022 Net revenues - Third-party $ 74,307 $ 125,265 $ — $ — $ 199,572 Inter-segment 147 87 — (234 ) — Operating (loss) (174 ) 66,888 (10,323 ) 33 56,424 Six Months Ended March 31, 2021 Net revenues - Third-party $ 62,270 $ 115,911 $ — $ — $ 178,181 Inter-segment 185 109 — (294 ) — Operating income (loss) 1,683 75,754 (8,600 ) 28 68,865 (1) Includes selected legal costs of $508 and $789 in the three and six months ended March 31, 2022, respectively, and $1,030 and $2,257 in the three and six months ended March 31, 2021, respectively. (2) Eliminations consist of inter-segment transactions.
Pre-tax Earnings Table	A reconciliation of reportable segment operating income (loss) to consolidated earnings before income taxes is as follows: Three Months Six Months 2022 2021 2022 2021 Operating income (loss): Diagnostics segment $ 1,589 $ 2,641 $ (174 ) $ 1,683 Life Science segment 40,286 36,025 66,888 75,754 Eliminations 18 16 33 28 Total segment operating income 41,893 38,682 66,747 77,465 Corporate operating expenses (5,752 ) (4,481 ) (10,323 ) (8,600 ) Interest income 2 6 3 15 Interest expense (341 ) (472 ) (713 ) (1,006 ) RADx initiative grant income — 200 — 1,000 Other, net 733 (883 ) 572 (1,574 ) Consolidated earnings before income taxes $ 36,535 $ 33,052 $ 56,286 $ 67,300
Consolidated Net Revenues	Individual Diagnostics or Life Science segment customers, including their affiliates, comprising Three Months Six Months 2022 2021 2022 2021 Diagnostics Customer A 6 % 10 % 9 % 11 % Customer B 9 % 10 % 10 % 10 % Customer C 9 % 11 % 10 % 11 % Life Science Customer D 13 % 9 % 13 % 14 % Customer E 22 % 2 % 22 % 2 %

Revenue Recognition - Summary o

Revenue Recognition - Summary of Disaggregation of Revenue by Reportable Segment and Geographic Region (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 111,231	$ 85,264	$ 199,572	$ 178,181
Revenue, % change	30.00%		12.00%
Diagnostics [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 41,103	31,949	$ 74,307	62,270
Revenue, % change	29.00%		19.00%
Diagnostics [Member] | Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 33,551	25,290	$ 60,164	48,824
Revenue, % change	33.00%		23.00%
Diagnostics [Member] | EMEA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 7,113	6,071	$ 13,206	12,101
Revenue, % change	17.00%		9.00%
Diagnostics [Member] | ROW [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 439	588	$ 937	1,345
Revenue, % change	(25.00%)		(30.00%)
Life Science [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 70,128	53,315	$ 125,265	115,911
Revenue, % change	32.00%		8.00%
Life Science [Member] | Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 10,377	13,550	$ 18,514	32,296
Revenue, % change	(23.00%)		(43.00%)
Life Science [Member] | EMEA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 33,246	21,773	$ 61,894	54,066
Revenue, % change	53.00%		14.00%
Life Science [Member] | ROW [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 26,505	$ 17,992	$ 44,857	$ 29,549
Revenue, % change	47.00%		52.00%

Revenue Recognition - Summary_2

Revenue Recognition - Summary of Disaggregation of Revenue by Product Platform/Type (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Revenue	$ 111,231	$ 85,264	$ 199,572	$ 178,181
Revenue, % change	30.00%		12.00%
Diagnostics [Member]
Segment Reporting Information [Line Items]
Revenue	$ 41,103	31,949	$ 74,307	62,270
Revenue, % change	29.00%		19.00%
Diagnostics [Member] | Molecular Assays [Member]
Segment Reporting Information [Line Items]
Revenue	$ 4,385	4,395	$ 9,137	8,985
Revenue, % change	0.00%		2.00%
Diagnostics [Member] | Non-molecular assays
Segment Reporting Information [Line Items]
Revenue	$ 36,718	27,554	$ 65,170	53,285
Revenue, % change	33.00%		22.00%
Life Science [Member]
Segment Reporting Information [Line Items]
Revenue	$ 70,128	53,315	$ 125,265	115,911
Revenue, % change	32.00%		8.00%
Life Science [Member] | Molecular Reagents [Member]
Segment Reporting Information [Line Items]
Revenue	$ 40,334	37,752	$ 71,822	83,776
Revenue, % change	7.00%		(14.00%)
Life Science [Member] | Immunological Reagents [Member]
Segment Reporting Information [Line Items]
Revenue	$ 29,794	$ 15,563	$ 53,443	$ 32,135
Revenue, % change	91.00%		66.00%

Revenue Recognition - Summary_3

Revenue Recognition - Summary of Disaggregation of Revenue by Disease State (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Revenue	$ 111,231	$ 85,264	$ 199,572	$ 178,181
Revenue, % change	30.00%		12.00%
Diagnostics [Member]
Segment Reporting Information [Line Items]
Revenue	$ 41,103	31,949	$ 74,307	62,270
Revenue, % change	29.00%		19.00%
Diagnostics [Member] | Gastrointestinal Assays [Member]
Segment Reporting Information [Line Items]
Revenue	$ 20,281	15,666	$ 41,900	31,118
Revenue, % change	29.00%		35.00%
Diagnostics [Member] | Respiratory Illness Assays [Member]
Segment Reporting Information [Line Items]
Revenue	$ 9,491	3,686	$ 15,871	8,492
Revenue, % change	157.00%		87.00%
Diagnostics [Member] | Blood Chemistry Assays [Member]
Segment Reporting Information [Line Items]
Revenue	$ 3,425	4,358	$ 3,503	8,753
Revenue, % change	(21.00%)		(60.00%)
Diagnostics [Member] | Other [Member]
Segment Reporting Information [Line Items]
Revenue	$ 7,906	$ 8,239	$ 13,033	$ 13,907
Revenue, % change	(4.00%)		(6.00%)

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Royalty income	$ 2,580	$ 2,850	$ 3,550	$ 3,710
Revenues	111,231	85,264	199,572	178,181
Lease Elements [Member] | Product Concentration Risk [Member] | Revenues [Member] | Reagent Rental Arrangements [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 970	$ 900	$ 1,725	$ 1,780

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2022	Sep. 30, 2021
Fair Value Measurements [Line Items]
Gain on contract termination	$ 935
Revolving Credit Facility [Member]
Fair Value Measurements [Line Items]
Pay down amount	25,000
Interest Rate Swap [Member]
Fair Value Measurements [Line Items]
Notional amount	25,000
Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Measurements [Line Items]
Fair value of interest rate swaps	$ 846	$ 203

Business Combinations - Additio

Business Combinations - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		6 Months Ended
	Apr. 30, 2022	Jul. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Payments to Acquire Businesses, Gross	$ 4,250
Consideration holdback	$ 3,750
Increase in value of acquired inventories			$ 100		$ 100
Finite lived intangible assets amortization expense			2,483	$ 2,142	4,966	$ 4,363
BreathTek [Member]
Payments to Acquire Businesses, Gross		$ 19,585
Consideration holdback		1,000
Business combination, recognized identifiable assets acquired and liabilities assumed, inventory		9,955
Net revenues			5,500		11,100
Net earnings			1,600		3,200
BreathTek [Member] | Customer Relationships [Member]
Business combination, recognized identifiable assets acquired and liabilities assumed, finite-lived intangibles		$ 9,630
Finite lived intangible assets useful life		5 years
Finite lived intangible assets amortization expense			$ 474		$ 960

Business Combinations - Consoli

Business Combinations - Consolidated Pro Forma Results Of The Combined Entities (Detail) - BreathTek [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Business Acquisition, Pro Forma Information [Abstract]
Net Revenues	$ 111,231	$ 91,033	$ 199,572	$ 188,857
Net Earnings	$ 28,752	$ 28,099	$ 44,092	$ 56,052

Lead Testing Matters - Addition

Lead Testing Matters - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2021
Accrued Recall and related notification payable	$ 3,375		$ 3,375		$ 5,100
Legal fees	508	$ 1,030	789	$ 2,257
DOJ Subpoena [Member]
Legal fees	$ 508	$ 1,030	$ 789	$ 2,257
Litigation filing date			April 17, 2018

Cash and Cash Equivalents - Com

Cash and Cash Equivalents - Components of Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2020
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 76,487	$ 49,771	$ 63,374	$ 53,514
Institutional Money Market Funds [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	1,020	1,020
Cash on hand, unrestricted [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 75,467	$ 48,751

Inventories, Net - Components o

Inventories, Net - Components of Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Sep. 30, 2021
Inventory [Line Items]
Raw materials	$ 15,140	$ 14,843
Work-in-process	22,296	25,072
Total	70,926	76,842
Instruments [Member]
Inventory [Line Items]
Finished goods	2,596	2,260
Kits and Reagents [Member]
Inventory [Line Items]
Finished goods	$ 30,894	$ 34,667

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, Net - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Amortization of identifiable assets	$ 2,483	$ 2,142	$ 4,966	$ 4,363
2022	4,960		4,960
2023	9,905		9,905
2024	9,900		9,900
2025	9,895		9,895
2026	8,900		8,900
2027	$ 6,645		6,645
Increase decrease in goodwill during the period			629
Diagnostics [Member]
Increase decrease in goodwill foreign currency translation adjustment			376
Life Science [Member]
Increase decrease in goodwill foreign currency translation adjustment			$ 253

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, Net - Summary of Acquired Intangible Assets Subject to Amortization (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Sep. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 135,701	$ 135,956
Accumulated Amortization	56,643	51,805
Manufacturing Technologies, Core Products and Cell Lines [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	62,385	62,416
Accumulated Amortization	24,510	22,633
Tradenames, Licenses and Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	18,451	18,489
Accumulated Amortization	10,070	9,492
Customer Lists, Customer Relationships, and Supply Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	54,755	54,941
Accumulated Amortization	22,021	19,649
Non-Compete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	110	110
Accumulated Amortization	$ 42	$ 31

Leasing Arrangements - Schedule

Leasing Arrangements - Schedule of Condensed Income Statement Of Operation (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Condensed Income Statements, Captions [Line Items]
Right-of-use assets, net obtained in exchange for operating lease liabilities	$ 2,803	$ 612	$ 3,021	$ 692
Lease costs within cost of sales
Condensed Income Statements, Captions [Line Items]
Operating lease cost	228	198	453	356
Lease costs within operating expenses
Condensed Income Statements, Captions [Line Items]
Operating lease cost	$ 358	$ 387	$ 746	$ 761

Leasing Arrangements - Schedu_2

Leasing Arrangements - Schedule of Weighted Average Remaining Lease Term and Discount Rate (Detail)	Mar. 31, 2022	Sep. 30, 2021
Weighted Average Remaining Lease Term And Weighted Average Discount Rate Used To Measure Operating Lease [Abstract]
Weighted average remaining lease term	4 years 3 months 18 days	3 years 7 months 6 days
Average discount rate	3.40%	3.20%

Leasing Arrangements - Schedu_3

Leasing Arrangements - Schedule of maturities of lease liabilities (Detail) $ in Thousands	Dec. 31, 2021USD ($)
Operating lease liabilities
2022 (represents remainder of fiscal year)	$ 1,173
2023	2,183
2024	1,775
2025	1,474
2026	890
Thereafter	792
Total lease payments	8,287
Less amount of lease payments representing interest	(574)
Total present value of lease payments	$ 7,713

Leasing Arrangements - Schedu_4

Leasing Arrangements - Schedule Of Supplemental Cash Flow Information Related To The CompanyS Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash Flow, Operating Activities, Lessee [Abstract]
Operating cash flows from operating leases	$ 1,216	$ 1,072

Bank Credit Arrangements - Addi

Bank Credit Arrangements - Additional Information (Detail) - Revolving Credit Facility [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2021
Debt Instrument [Line Items]
Line of credit facility borrowing capacity	$ 200,000		$ 200,000
Line of credit outstanding	$ 25,000		$ 25,000		$ 60,000
Expiration of credit facility			October 2026
Revolving credit facility interest rate percentage	2.47%	2.60%	2.33%	2.57%

Contingent Obligations and No_3

Contingent Obligations and Non-Current Liabilities - Schedule of Government Grant Obligations Reflected in Condensed Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Sep. 30, 2021
Contingent Obligations and NonCurrent Liabilities Disclosure [Abstract]
Current liabilities	$ 675	$ 638
Liabilities, Noncurrent	$ 4,913	$ 5,176

Contingent Obligations and No_4

Contingent Obligations and Non-Current Liabilities - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2022	Sep. 30, 2021
Government grant obligations	$ 5,588	$ 5,814
Breath ID Products [Member]
Percent of breath ID revenue for grant repayment	3.00%
Potential Future Severance Indemnity [Member]
Liability for potential severance indemnity	$ 713	754
Former Chief Executive Officer [Member]
Post employment benefit obligations	$ 1,589	$ 1,676
Maximum [Member] | Long Term Government Grant Obligations [Member]
Percentage of interest on grants	2.02%	2.02%
Minimum [Member] | Long Term Government Grant Obligations [Member]
Percentage of interest on grants	0.58%	0.58%

National Institutes of Health_2

National Institutes of Health Contracts - Additional Information (Detail) - USD ($) $ in Thousands	Feb. 01, 2021	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jan. 25, 2022	Sep. 30, 2021
Health Contracts Relating To Research And Development [Line Items]
Grant Contract Lease Term	24 months
Grant receipts upon milestone achievement					$ 8,000
RADx grant proceeds offsetting cost of equipment			$ 1,500
National Institute Of Health [Member] | Other Income Expense [Member]
Health Contracts Relating To Research And Development [Line Items]
Proceeds from reimbursement of research and development expenditure		$ 200		$ 1,000
National Institute Of Health [Member] | Reimbursement Of Research And Development Expenditure Accrued [Member]
Health Contracts Relating To Research And Development [Line Items]
Reimbursement of research and development expenditure						$ 1,000

Reportable Segment and Major _3

Reportable Segment and Major Customers Information - Consolidated Net Revenues (Detail) - Customer Concentration Risk [Member] - Revenues [Member] - Segment Level [Member]	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Customer A [Member] | Diagnostics [Member]
Entity Wide Portfolio Carrying Amount, Major Customer [Line Items]
Concentration percentage	6.00%	10.00%	9.00%	11.00%
Customer B [Member] | Diagnostics [Member]
Entity Wide Portfolio Carrying Amount, Major Customer [Line Items]
Concentration percentage	9.00%	10.00%	10.00%	10.00%
Customer C [Member] | Diagnostics [Member]
Entity Wide Portfolio Carrying Amount, Major Customer [Line Items]
Concentration percentage	9.00%	11.00%	10.00%	11.00%
Customer D [Member] | Life Science [Member]
Entity Wide Portfolio Carrying Amount, Major Customer [Line Items]
Concentration percentage	13.00%	9.00%	13.00%	14.00%
Customer E [Member] | Life Science [Member]
Entity Wide Portfolio Carrying Amount, Major Customer [Line Items]
Concentration percentage	22.00%	2.00%	22.00%	2.00%

Reportable Segment and Major _4

Reportable Segment and Major Customers Information - Additional Information (Detail)	3 Months Ended				6 Months Ended			12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2022	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2021
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Life Science [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk percentage						10.00%
Customer Concentration Risk [Member] | Customer B [Member] | Accounts Receivable [Member] | Diagnostics [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk percentage								12.00%
Customer Concentration Risk [Member] | Life Science Segment Ten Largest Customer [Member] | Sales Revenue, Net [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk percentage			48.00%				30.00%
Customer Concentration Risk [Member] | Life Science Segment Ten Largest Customer [Member] | Sales Revenue, Net [Member] | Operating Segments [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk percentage	62.00%				39.00%
Customer Concentration Risk [Member] | One Single Customer [Member] | Sales Revenue, Net [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk percentage	0.00%	10.00%		10.00%			10.00%
Customer Concentration Risk [Member] | Customer D [Member] | Accounts Receivable [Member] | Life Science [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk percentage								10.00%
Customer Concentration Risk [Member] | Customer E [Member] | Accounts Receivable [Member] | Life Science [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk percentage			14.00%				1.00%
Product Concentration Risk [Member] | Three Diagnostics Product Families [Member] | Sales Revenue, Net [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk percentage	30.00%		28.00%			31.00%	27.00%

Reportable Segment and Major _5

Reportable Segment and Major Customers Information - Reportable Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2021
Segment Reporting Information [Line Items]
Net revenues	$ 111,231	$ 85,264	$ 199,572	$ 178,181
Operating income (loss)	36,141	34,201	56,424	68,865
Goodwill	114,039		114,039		$ 114,668
Other intangible assets, net	79,058		79,058		84,151
Total assets	471,810		471,810		449,722
Litigation costs	508	1,030	789	2,257
Corporate [Member]
Segment Reporting Information [Line Items]
Operating income (loss)	(5,752)	(4,481)	(10,323)	(8,600)
Eliminations [Member]
Segment Reporting Information [Line Items]
Net revenues	(145)	(207)	(234)	(294)
Operating income (loss)	18	16	33	28
Total assets	(34)		(34)		(22)
Operating Segments [Member] | Diagnostics [Member]
Segment Reporting Information [Line Items]
Net revenues	41,103	31,949	74,307	62,270
Net revenues	113	116	147	185
Operating income (loss)	1,589	2,641	(174)	1,683
Goodwill	94,528		94,528		94,904
Other intangible assets, net	79,056		79,056		84,149
Total assets	355,754		355,754		339,208
Operating Segments [Member] | Life Science [Member]
Segment Reporting Information [Line Items]
Net revenues	70,128	53,315	125,265	115,911
Net revenues	32	91	87	109
Operating income (loss)	40,286	$ 36,025	66,888	$ 75,754
Goodwill	19,511		19,511		19,764
Other intangible assets, net	2		2		2
Total assets	$ 116,090		$ 116,090		$ 110,536

Reportable Segment and Major _6

Reportable Segment and Major Customers Information - Pre-tax Earnings Table (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Operating income (loss)	$ 36,141	$ 34,201	$ 56,424	$ 68,865
Corporate operating expenses	(5,752)	(4,481)	(10,323)	(8,600)
Interest income	2	6	3	15
Interest expense	(341)	(472)	(713)	(1,006)
RADx initiative grant income	0	200	0	1,000
Other, net	733	(883)	572	(1,574)
EARNINGS BEFORE INCOME TAXES	36,535	33,052	56,286	67,300
Operating Segments [Member]
Total segment operating income	41,893	38,682	66,747	77,465
Operating Segments [Member] | Diagnostics [Member]
Operating income (loss)	1,589	2,641	(174)	1,683
Operating Segments [Member] | Life Science [Member]
Operating income (loss)	40,286	36,025	66,888	75,754
Eliminations [Member]
Operating income (loss)	$ 18	$ 16	$ 33	$ 28

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Income Taxes Disclosure [Line Items]
Effective income tax rate	21.00%	20.00%	22.00%	21.00%

Subsequent Event - Additional I

Subsequent Event - Additional Information (Detail) $ in Thousands	1 Months Ended
	Apr. 30, 2022USD ($)
Subsequent Event [Line Items]
Cash payment to acquire business	$ 4,250
Consideration holdback	$ 3,750