v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information

16. SEGMENT INFORMATION

The Company has one operating segment. The Company’s operating segment is engaged in the field of generative biology by using machine learning for drug discovery and development through the programming of novel protein therapeutics. The Company’s chief operating decision maker, its Chief Executive Officer, manages the Company’s operations on a consolidated basis for the purposes of assessing performance and allocating resources based on net loss attributable to Generate Biomedicines, Inc. stockholders that also is reported on the consolidated statement of operations as consolidated net loss to Generate Biomedicines, Inc. stockholders. This financial metric is used by the chief operating decision maker ("CODM") to make key operating decisions such as the allocation of capital between program expenses, early-stage discovery expenses, and general and administrative expense, including headcount and facilities decisions. The operating segment’s revenue is derived from multiple collaboration agreements from which the segment licenses certain development or product candidates and performs research and development services. The measure of segment assets is reported on the balance sheet as total consolidated assets. All of the Company’s long-lived assets are held in the United States. The following table presents selected financial information about the Company’s single operating segment. The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM for the three and six months ended June 30, 2026 and 2025 (amounts in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Collaboration revenue

 

$

6,314

 

 

$

10,130

 

 

$

13,538

 

 

$

18,948

 

Operating Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Research and development personnel-related (excluding stock-based compensation)

 

 

20,405

 

 

 

19,279

 

 

 

40,218

 

 

 

37,290

 

External research and development costs - GB-0895

 

 

20,490

 

 

 

13,280

 

 

 

36,076

 

 

 

17,074

 

External - discovery related costs and other

 

 

16,879

 

 

 

21,122

 

 

 

33,337

 

 

 

40,292

 

General and administrative personnel-related (excluding stock-based compensation)

 

 

4,545

 

 

 

4,457

 

 

 

9,185

 

 

 

8,888

 

External - General and administrative

 

 

4,147

 

 

 

3,332

 

 

 

9,318

 

 

 

6,740

 

Stock-based compensation

 

 

8,238

 

 

 

5,487

 

 

 

14,633

 

 

 

10,231

 

Depreciation expense

 

 

3,224

 

 

 

3,322

 

 

 

6,497

 

 

 

6,736

 

Other segment expenses (a)

 

 

62

 

 

 

31

 

 

 

367

 

 

 

48

 

Interest income

 

 

(4,629

)

 

 

(3,789

)

 

 

(7,542

)

 

 

(8,070

)

Interest expense

 

 

155

 

 

 

307

 

 

 

337

 

 

 

675

 

Provision for income tax

 

 

53

 

 

 

44

 

 

 

81

 

 

 

100

 

Consolidated net loss

 

$

(67,255

)

 

$

(56,742

)

 

$

(128,969

)

 

$

(101,056

)

Net loss attributable to non-controlling interests

 

 

-

 

 

 

(4,313

)

 

 

(268

)

 

 

(6,942

)

Consolidated net loss attributable to Generate Biomedicines, Inc. stockholders

 

$

(67,255

)

 

$

(52,429

)

 

$

(128,701

)

 

$

(94,114

)

 

(a)
Other segment expenses include change in fair value of convertible preferred stock warrant liability and foreign currency exchange loss.