v3.26.1
Note 19 - Segment Information
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

19.

Segment Information

 

Tivic Health is developing biologics that activate the immune pathways to protect and restore tissue in conditions driven by radiation, disease, and immune dysregulation. As of December 10, 2025, the Company also operates a contract development and manufacturing organization (or "CDMO") through the Company's wholly owned subsidiary, Velocity Bioworks, Inc., (or "VBI"). The CDMO provides development services to Tivic to support the manufacturing of Entolimod, the Company's lead product candidate. The Company manages its business activities as two operating segments, the biopharma business and the CDMO business. Tivic's Chief Executive Officer is the Chief Operating Decision Maker ("CODM"). The CODM utilizes the Company's long-term plan, which includes product development roadmaps and long-term financial models, as key input to resource allocation. The CODM makes decisions on resource allocation, assesses performance of the business, and monitors budget versus actual results using factors such as operating expenses, loss from operations and net loss. 

 

Prior to December 2025, we operated as a single operating segment.  For the year ended December 31, 2025, we have two reportable segments; Biopharma and the CDMO.  Our Biopharma segment is engaged in the development and commercialization of our pharmaceutical product candidates and is operated from our corporate headquarters in San Antonio, Texas. Our CDMO segment offers contract development and manufacturing services to Tivic and external customers. The manufacturing site is located in San Antonio, Texas. The Company's two reportable business segments are managed separately based on the differences in their operations. The Company evaluates performance of its segments based on the contribution to operating income (loss) of the respective segments.

 

Financial information by business segment is set forth below (in thousands):

 

      

As of December 31, 2025

     
  

Biopharma

  

CDMO

  

Consolidated

 

Cash and cash equivalents

 $12,277  $368  $12,645 

Prepaid expenses and other current assets

  156   190   346 

Property and equipment, net

  34   12,607   12,641 

Deferred offering costs

  136   —   136 

Licensed technology, net

  2,243   —   2,243 

Goodwill

  —   3,457   3,457 

Other assets

  124   —   124 

Total consolidated assets of continuing operations

 $14,970  $16,622  $31,592 

 

 

 

      

For the year ended December 31, 2025

     
  

Biopharma

  

CDMO

  

Consolidated

 

Operating expenses:

            

Research and development

 $2,776  $355  $3,131 

Selling, general and administrative

  4,575   192   4,767 

Total operating expenses

  7,351   547   7,898 

Other (expense) income:

            

Change in fair value of derivative liability

  28   —   28 

Interest income

  23   —   23 

Interest expense

  (146)  —   (146)

Net other expense

  (95)  —   (95)

Net loss from operations before discontinued operations

 $(7,446) $(547) $(7,993)

 

All of the Company's assets are located in the United States.