v3.26.1
Segment Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information

21. Segment Information

 

The Company regularly reviews its segments and the approach used by management to evaluate performance and allocate resources. The Company manages its operations through an evaluation of three distinct business segments: Cell Therapy, BioBanking, and Degenerative Disease. The chief operating decision maker uses the revenues and earnings (losses) of the operating segments, among other factors, for performance evaluation and resource allocation among these segments. The Company’s chief operating decision maker is the Company’s Chief Executive Officer.

 

The reportable segments were determined based on the distinct nature of the activities performed by each segment. Cell Therapy broadly refers to therapies the Company is researching and developing. Therapies being researched are unproven and in various phases of development. Degenerative Disease produces, sells and licenses products used in surgical and wound care markets. BioBanking collects stem cells from umbilical cords and placentas and provides storage of such cells on behalf of individuals for future use.

 

The Company manages its assets on a total company basis, not by operating segment. Therefore, the chief operating decision maker does not regularly review any asset information or related income statement effects by operating segment and, accordingly, asset information is not reported by operating segment. Total assets were $107,329 and $132,682 as of December 31, 2025, and December 31, 2024, respectively.

 

 

Financial information by segment is as follows:

 

   Cell Therapy   BioBanking   Degenerative Disease  Total 
   Year Ended December 31, 2025 
   Cell Therapy   BioBanking   Degenerative Disease  Total 
Net revenues  $3,807   $5,432   $17,311  $26,550 
Cost of revenues (excluding amortization of acquired intangible assets)   —    859    19,215   20,074 
Direct expenses   13,194    1,371    12,922   27,487 
Segment contribution  $(9,387)  $3,202   $(14,826) $(21,011)
Other general and administrative expenses                 38,804 
Amortization                 1,493 
Loss from operations                $(61,308)
Other expenses                 (30,405)
Loss before income taxes                $(91,713)

 

  

Cell

Therapy

   BioBanking   Degenerative Disease    Total 
   Year Ended December 31, 2024 
  

Cell

Therapy

   BioBanking   Degenerative Disease   Total 
Net revenues  $688   $5,140   $48,392   $54,220 
Cost of revenues (excluding amortization of acquired intangible assets)   —    1,172    13,817    14,989 
Direct expenses   15,807    1,673    20,846    38,326 
Segment contribution  $(15,119)  $2,295   $13,729   $905 
Other general and administrative expenses                  37,703 
Indirect expenses                  1,560(a)
Loss from operations                 $(38,358)
Other expenses                  (19,534)
Loss before income taxes                 $(57,892)
(a) Components of indirect expenses                    
                     
Change in fair value of contingent consideration liability                 $(193)
Amortization                  1,753 
Total indirect expenses                 $1,560