Mesa Labs expects $271M non-cash impairment charge for FY2024, impacting two divisions

MESA LABORATORIES INC /CO/

Non-cash impairment of ~$271M for Clinical Genomics and Biopharmaceutical Development divisions in Q4 FY2024.
Goodwill impairment of ~$123M ($98M Clinical Genomics, $25M Biopharm Dev) and intangible asset impairment of ~$148M ($114M and $34M).
Driven by restructuring (eliminated 17 positions), loss of Sema4 as customer, macro uncertainty, and higher discount rates.
Non-cash charge does not affect cash flows from operations; final amounts subject to change upon 10-K filing.
Management cites new strategies, downward revenue revisions, and elevated interest rates as key factors.

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