v3.26.1
Segment
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment

Note 13. Segment

The Company operates as a single operating segment that is managed on an entity-wide basis. The Company’s chief operating decision maker is its Chief Executive Officer. The Company’s chief operating decision maker uses net loss to evaluate the performance of its segment, analyze financial trends, compare the budget to the actual operating results, and make resource allocation decisions. Segment net loss represents the Company’s total net loss. All corporate costs, including allocated facilities and information technology costs, and depreciation, are included within this segment.

The significant expense categories within net loss are presented on the statements of operations. The research and development expenses have been disaggregated as follows (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

Research and engineering expenses

 

$

29,483

 

 

$

33,627

 

Clinical expenses

 

 

35,564

 

 

 

22,960

 

In-process research and development expenses

 

 

5,000

 

 

 

—

 

Total research and development expenses

 

 

70,047

 

 

 

56,587

 

General and administrative expenses

 

 

17,290

 

 

 

14,796

 

Other segment items#

 

 

(4,379

)

 

 

(3,140

)

Net loss

 

$

82,958

 

 

$

68,243

 

 

# Other segment items is comprised of interest income (expense), net and other income (expense), net.

The Company’s long-lived assets as of March 31, 2026 and December 31, 2025 were located in the United States.