Interest Rate Risk We had cash and cash equivalents totaling $70.3 million and $80.2 million as of December 31, 2025 and 2024, respectively, which are comprised of money market funds and bank and short-term deposits with maturities up to three months. Our cash and cash equivalents are subject to market risk due to changes in interest rates. 144 Table of Contents Fixed rate securities may have their market value adversely affected due to a rise in interest rates. Due in part to these factors, our future investment income may fall short of expectation due to changes in interest rates or we may suffer losses in principal if we are forced to sell securities that decline in market value due to changes in interest rates. As of December 31, 2025, we currently have $50.0 million of debt outstanding under the Perceptive Credit Agreement. Based on the terms of the Perceptive Credit Agreement, the monthly interest expense fluctuates based on the Term SOFR reference rate that is two business days prior to the first day of the preceding calendar month. Given our outstanding debt under this agreement, we are subject to interest rate risk related to debt obligations if the SOFR were to move significantly. We do not believe that a hypothetical 100 basis points change in interest rates would have a material effect on our business, financial condition, or results of operations. We do not enter into investments for trading or speculative purposes. We do not use any financial instruments to manage our interest rate risk exposure. Foreign Exchange Risk We operate internationally and a portion of our revenue, expenses, assets, liabilities, and cash flows are denominated in currencies other than our presentation currency. As a result, we are exposed to fluctuations in foreign exchange rates. The sensitivity of our income to possible changes in foreign exchange rates is measured at the local entity level as it depends on the functional currency of each entity. For the years ended December 31, 2025 and 2024, we were exposed principally to movements in four cross-currency pairs. The sensitivity of our loss before tax to such changes was as follows: December 31, 2025 2024 2023 Increase / (decrease) in USD/CHF exchange rate by 10% (2,101) / 2,101 562 / (562) 3,034 / (3,034) Increase / (decrease) in EUR/CHF exchange rate by 10% 1,020 / (1,020) (75) / 75 508 / (508) Increase / (decrease) in GBP/CHF exchange rate by 10% 36 / (36) 25 / (25) (23) / 23 We do not believe that foreign exchange risk associated with other cross-currency pairs is material to our business, financial condition or results of operations. Credit Risk We are exposed to credit risk from our operating activities, primarily trade receivables. Credit risk is the risk that a counterparty will be unable to meet its obligations under a financial instrument or customer contract. Allowance is made for lifetime expected credit losses as invoices are issued. The amount of allowance initially recognized is based on historical experience, tempered by expected changes in future cash collections, due to, for example, expected improved customer liquidity or more active credit management. We do not believe that credit risk had a material effect on our business, financial condition, or results of operations. The largest outstanding balance represented 15% of trade and other receivables in 2025, which is attributable to one of our biopharma customers. This is due to a large invoice related to significant portions of contracts completed as of December 2025.The customer is one of the largest biopharma firms in the world and has a strong payment history and is in good standing with us. Our cash and cash equivalents are deposited with reputable financial institutions. If customers representing a significant percentage of our trade receivables are unable to meet their payment obligations to us, we may suffer harm to our business, financial condition, or results of operations. Inflation Risk We believe our business is able to pass along increases in the costs of providing our applications, products, and services caused by inflation by increasing the prices of our applications, products, and services. For multi-year 145 Table of Contents contracts, our general terms and conditions allow us to increase prices, at minimum on an annual basis. However, we do not believe that inflation had a material effect on our business, financial condition, or results of operations. If our costs were to become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases. Our inability or failure to do so could harm our business, financial condition or results of operations.