| Schedule of reportable segments net revenue and net loss |
The Company's reportable segments' net revenues and net loss for the three months ended March 31, 2026 and 2025, consisted of the following:
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
Three Months Ended |
|
(in thousands) |
|
March 31, 2026 |
|
|
|
(unaudited) |
|
|
|
Human Health |
|
|
Animal Health |
|
|
Total |
|
External revenue |
|
$ |
|
19,927 |
|
|
$ |
|
345 |
|
|
$ |
|
20,272 |
|
Less: Segment expenses |
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|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
|
|
987 |
|
|
|
|
171 |
|
|
|
|
1,158 |
|
Research and development |
|
|
|
3,169 |
|
|
|
|
754 |
|
|
|
|
3,923 |
|
Sales and marketing |
|
|
|
704 |
|
|
|
|
192 |
|
|
|
|
896 |
|
General and administrative |
|
|
|
1,971 |
|
|
|
|
2,642 |
|
|
|
|
4,613 |
|
Interest |
|
|
|
187 |
|
|
|
|
512 |
|
|
|
|
699 |
|
Other segment items* |
|
|
|
1,044 |
|
|
|
|
342 |
|
|
|
|
1,386 |
|
Segment expenses |
|
|
|
8,062 |
|
|
|
|
4,613 |
|
|
|
|
12,675 |
|
Segment net comprehensive income (loss) |
|
$ |
|
11,865 |
|
|
$ |
|
(4,268 |
) |
|
$ |
|
7,597 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of net comprehensive loss |
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|
|
|
|
|
|
|
|
|
|
|
Adjustments and reconciling items** |
|
|
|
|
|
|
|
|
|
|
|
668 |
|
Consolidated net comprehensive loss |
|
|
|
|
|
|
|
|
|
$ |
|
8,265 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
(in thousands) |
|
March 31, 2025 |
|
|
(unaudited) |
|
|
Human Health |
|
Animal Health |
|
Total |
External revenue |
|
$ |
2,138 |
|
$ |
76 |
|
$ |
2,214 |
Less: Segment expenses |
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
|
505 |
|
|
10 |
|
|
515 |
Research and development |
|
|
3,113 |
|
|
612 |
|
|
3,725 |
Sales and marketing |
|
|
2,396 |
|
|
97 |
|
|
2,493 |
General and administrative |
|
|
2,004 |
|
|
3,338 |
|
|
5,342 |
Interest |
|
|
— |
|
|
— |
|
|
— |
Other segment items* |
|
|
311 |
|
|
1,176 |
|
|
1,487 |
Segment expenses |
|
|
8,329 |
|
|
5,233 |
|
|
13,562 |
Segment net comprehensive loss |
|
$ |
(6,191) |
|
$ |
(5,157) |
|
$ |
(11,348) |
|
|
|
|
|
|
|
|
|
|
Reconciliation of net comprehensive loss |
|
|
|
|
|
|
|
|
|
Adjustments and reconciling items** |
|
|
|
|
|
|
|
|
490 |
Consolidated net comprehensive loss |
|
|
|
|
|
|
|
$ |
(10,858) |
*Other segment items for each reportable segment include: •Human Health - realized gain/loss on foreign exchange transactions, change in fair value of warrants, gain/loss on debt extinguishment and share in net income or loss in joint venture. •Animal Health - realized and unrealized gain/loss on foreign exchange transactions. **Adjustments and reconciling items include intercompany elimination entries
|
| Schedule of reportable segments assets |
The Company's reportable segments assets consisted of the following:
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|
|
|
|
|
|
|
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|
|
|
|
March 31, |
|
|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
(in thousands) |
|
(unaudited) |
|
|
|
|
|
Segment assets |
|
|
|
|
|
|
|
Human Health |
|
$ |
|
30,692 |
|
|
$ |
|
28,321 |
|
Animal Health |
|
|
|
173,466 |
|
|
|
|
185,511 |
|
Total |
|
$ |
|
204,158 |
|
|
$ |
|
213,832 |
|
|
| Schedule of reconciliation of segments assets to the consolidated assets |
The reconciliation of segments assets to the consolidated assets is as follows:
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|
|
|
March 31, |
|
|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
(in thousands) |
|
(unaudited) |
|
|
|
|
|
Total assets for reportable segments |
|
$ |
|
204,158 |
|
|
$ |
|
213,832 |
|
Less: Investment in subsidiary |
|
|
|
(29,231 |
) |
|
|
|
(29,231 |
) |
Less: Intercompany loan |
|
|
|
(137,493 |
) |
|
|
|
(146,278 |
) |
Consolidated Totals |
|
$ |
|
37,434 |
|
|
$ |
|
38,323 |
|
|