Quarterly report [Sections 13 or 15(d)]

Segment and Geographic Information (Tables)

v3.25.3
Segment and Geographic Information (Tables)
9 Months Ended
Sep. 30, 2025
Segment and Geographic Information  
Schedule of segment information

The table below presents segment information for the three and nine months ended September 30, 2025 and 2024 (in thousands):

Three Months Ended September 30, 

Nine Months Ended September 30, 

2025

     

2024

     

2025

     

2024

Income and revenues

$

9,351

$

7,197

$

38,392

$

19,773

Business development and deal related costs

(4,339)

(1,028)

(7,212)

(2,446)

Other segment items:

Research and development expenses

(69)

(817)

(1,431)

(2,011)

Depreciation of property and equipment

(2)

(3)

(8)

(8)

Other general and administrative expenses(1)

(5,393)

(6,989)

(18,462)

(25,031)

Credit losses on purchased receivables

(14,000)

(23,000)

Amortization of intangible assets

(878)

(2,077)

Gains on acquisitions

18,004

18,004

19,316

Change in fair value of embedded derivative related to RPA

8,100

Change in fair value of derivatives related to Castle Creek

(15)

(10)

Interest expense

(3,301)

(3,493)

(10,004)

(10,446)

Other income, net

742

1,890

8,466

5,900

Income tax expense

(49)

(49)

Segment and consolidated net income (loss)

$

14,051

$

(17,243)

$

25,609

$

(9,853)

(1) Other general and administrative expenses for the three and nine months ended September 30, 2025 included general and administrative expenses of $9.7 million and $25.7 million, respectively, net of business development and deal related costs and depreciation of property and equipment.

 

Schedule of income and revenue by geographical region

Income and revenue attributed to the following geographic regions based on the location of the partners and licensees was as follows (in thousands):

Three Months Ended September 30, 

Nine Months Ended September 30, 

    

2025

     

2024

     

2025

     

2024

United States

$

2,628

$

1,774

$

16,094

$

9,787

Switzerland

6,723

5,423

18,298

9,986

Asia Pacific

 

 

 

4,000

 

Total

$

9,351

$

7,197

$

38,392

$

19,773