v3.26.1
Segment Reporting
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Long-Lived Assets
Long-lived assets, which consist of property and equipment, net, and operating lease right-of-use assets, net, as reported in the Company’s consolidated balance sheets, were attributed to the following geographic areas (in thousands):
December 31,
2025
2024
United Kingdom
$127,658 $104,160 
United States
455 891 
Europe
390 — 
Total Long-Lived Assets$128,503 $105,051 
For the year ended December 31, 2025, the Company recognized an impairment of long-lived assets relating to the operating lease right-of-use assets and related property and equipment of $0.3 million related to a leased property in Enfield, United Kingdom. For the year ended December 31, 2024, the Company recognized an impairment loss on operating lease right-of-use assets and related property and equipment of $0.4 million related to another leased property in Enfield, United Kingdom.
Revenue
Revenue recognized by geographic area are disclosed in Note 3, “Revenue”.
Segment profit or loss
The table below is a summary of the segment profit or loss, including significant segment expenses (in thousands):
December 31,
2025
2024
Total revenue, net
$75,388 $10,120 
Less operating expenses:
Cost of sales
(96,369)(11,387)
Research and clinical development
(56,848)(37,831)
Product delivery(21,739)(78,428)
Commercial and Medical affairs
(70,916)(55,219)
Support functions(80,899)(66,300)
Other segment expenses, net (1)
(19,161)(2,381)
Total operating expenses(345,932)(251,546)
Operating loss(270,544)(241,426)
Other income, net515 220 
Foreign exchange gains (losses)
2,163 (989)
Interest income18,980 32,355 
Interest expense, net
(36,670)(9,294)
Income tax expense
(1,972)(1,528)
Segment and consolidated net loss$(287,528)$(220,662)
(1) Other segment expenses, net include U.K. research and development tax credits, depreciation, amortization and share-based compensation expenses.