2026 Full Year Outlook

• Net sales: Increasing between 10-15% year-over-year excluding 2025 net sales attributable to the Analytical Reference Standards and Services segment, driven primarily by e-commerce business and new strategic partnerships.
• Gross margin: Slight improvement year-over-year, driven by improvements in inventory cost and product mix.
• Sales & marketing: Increasing in absolute dollars and as a percentage of sales, driven by increased investments to drive customer acquisition and support the launch of new verticals (compared to the previous guidance of stable as a percentage of sales).
• Research & development: Increasing, driven by investment into pharmaceutical development and continued research initiatives related to topical and injection applications.
• General & administrative: $3 million to $4 million increase driven by infrastructure investments and legal expenses to support the growth of existing business and new market launches, as well as increased share-based compensation expense with the absence of credit loss recovery.