| Reporting Segment and Geographic Information |
10. Reporting Segment and Geographic Information The Company views its operations and manages its business in one reporting segment. The Company’s chief operating decision-maker (“CODM”) is its Chief Executive Officer, who evaluates financial information and assesses the performance of resources on a consolidated basis. Long-lived assets are primarily located in the United States as of June 30, 2026 and December 31, 2025. The key measure of segment profit or loss that the CODM uses to allocate resources and in assessing performance is the Company’s consolidated net loss, as reported on the Consolidated Statements of Operations. The CODM uses net loss to monitor actual results against budgeted and prior period operating results for the purpose of evaluating operational efficiency, and to evaluate income generated from the assets in making strategic decisions on organizational resource allocation. Revenue by region for the three and six-months ended June 30, 2026 and 2025 were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three-Months Ended |
|
Six-Months Ended |
|
|
June 30, 2026 |
|
June 30, 2025 |
|
June 30, 2026 |
|
June 30, 2025 |
|
Revenue by region: |
|
|
|
|
|
|
|
|
United States |
$ |
20,846 |
|
$ |
17,896 |
|
$ |
39,416 |
|
$ |
35,652 |
|
Japan |
|
387 |
|
|
427 |
|
|
826 |
|
|
1,061 |
|
European Union |
|
182 |
|
|
- |
|
|
315 |
|
|
49 |
|
Australia |
|
194 |
|
|
40 |
|
|
234 |
|
|
80 |
|
United Kingdom |
|
93 |
|
|
55 |
|
|
162 |
|
|
90 |
|
Total |
$ |
21,702 |
|
$ |
18,418 |
|
$ |
40,953 |
|
$ |
36,932 |
|
Revenue by customer type for the three and six-months ended June 30, 2026 and 2025 were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three-Months Ended |
|
Six-Months Ended |
|
|
June 30, 2026 |
|
June 30, 2025 |
|
June 30, 2026 |
|
June 30, 2025 |
|
Revenue by customer type: |
|
|
|
|
|
|
|
|
Commercial sales |
$ |
21,613 |
|
$ |
18,354 |
|
$ |
40,856 |
|
$ |
36,804 |
|
Deferred commercial revenue recognized |
|
9 |
|
|
8 |
|
|
17 |
|
|
17 |
|
BARDA revenue for right of first access |
|
80 |
|
|
56 |
|
|
80 |
|
|
111 |
|
Total |
$ |
21,702 |
|
$ |
18,418 |
|
$ |
40,953 |
|
$ |
36,932 |
|
Commercial revenue by product for the three and six-months ended June 30, 2026 and 2025 were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three-Months Ended |
|
Six-Months Ended |
|
|
June 30, 2026 |
|
June 30, 2025 |
|
June 30, 2026 |
|
June 30, 2025 |
|
Commercial revenue by product: |
|
|
|
|
|
|
|
|
RECELL |
$ |
19,049 |
|
$ |
16,819 |
|
$ |
36,170 |
|
$ |
34,494 |
|
Cohealyx |
|
1,744 |
|
|
330 |
|
|
3,244 |
|
|
357 |
|
PermeaDerm |
|
607 |
|
|
1,013 |
|
|
1,042 |
|
|
1,572 |
|
Lease revenue |
|
213 |
|
|
192 |
|
|
400 |
|
|
381 |
|
Total commercial sales |
$ |
21,613 |
|
$ |
18,354 |
|
$ |
40,856 |
|
$ |
36,804 |
|
Consolidated net loss by segment for the three and six-months ended June 30, 2026 and 2025 were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three-Months Ended |
|
|
Six-Months Ended |
|
|
|
June 30, 2026 |
|
June 30, 2025 |
|
|
June 30, 2026 |
|
June 30, 2025 |
|
Total revenues |
|
$ |
21,702 |
|
$ |
18,418 |
|
|
$ |
40,953 |
|
$ |
36,932 |
|
Purchases of inventory |
|
|
(3,483 |
) |
|
(3,277 |
) |
|
|
(6,261 |
) |
|
(5,775 |
) |
Other cost of sales |
|
|
(452 |
) |
|
(192 |
) |
|
|
(1,197 |
) |
|
(528 |
) |
Gross profit |
|
|
17,767 |
|
|
14,949 |
|
|
|
33,495 |
|
|
30,629 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
Sales and marketing |
|
|
(13,573 |
) |
|
(14,314 |
) |
|
|
(26,414 |
) |
|
(29,147 |
) |
General and administrative |
|
|
(5,971 |
) |
|
(6,666 |
) |
|
|
(12,032 |
) |
|
(13,057 |
) |
Research and development |
|
|
(5,078 |
) |
|
(5,117 |
) |
|
|
(10,707 |
) |
|
(11,400 |
) |
Total operating expenses |
|
|
(24,622 |
) |
|
(26,097 |
) |
|
|
(49,153 |
) |
|
(53,604 |
) |
Operating loss |
|
|
(6,855 |
) |
|
(11,148 |
) |
|
|
(15,658 |
) |
|
(22,975 |
) |
Interest expense |
|
|
(1,463 |
) |
|
(1,252 |
) |
|
|
(2,887 |
) |
|
(2,485 |
) |
Other income, net |
|
|
688 |
|
|
2,484 |
|
|
|
293 |
|
|
1,693 |
|
Loss before income taxes |
|
|
(7,630 |
) |
|
(9,916 |
) |
|
|
(18,252 |
) |
|
(23,767 |
) |
Income tax expense |
|
|
(33 |
) |
|
(4 |
) |
|
|
(22 |
) |
|
(12 |
) |
Net loss |
|
$ |
(7,663 |
) |
$ |
(9,920 |
) |
|
$ |
(18,274 |
) |
$ |
(23,779 |
) |
Other cost of sales consists of shipping costs, manufacturing scrap and overhead variances, and depreciation. |