Company: PGEN
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001356090-25-000007
Chunk: 118

Company: PRECIGEN, INC.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 7
Chunk 118
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, 2024 to the year ended December 31, 2023

The following table summarizes our results of operations for the years ended December 31, 2024, and 2023, together with the changes in those items in dollars and as a percentage (dollar amounts in thousands):

 Year Ended  December 31,DollarChangePercentChange 20242023 (In thousands) RevenuesCollaboration and licensing revenues $— $75 $(75)(100.0)%Product revenues422 840 (418)(49.8)%Service revenues3,470 5,301 (1,831)(34.5)%Other revenues33 9 24 >200%Total revenues3,925 6,225 (2,300)(36.9)%Operating expensesCost of products and services4,267 6,119 (1,852)(30.3)%Research and development53,070 48,614 4,456 9.2 %Selling, general and administrative41,293 40,415 878 2.2 %Impairment of goodwill7,409 10,390 (2,981)(28.7)%Impairment of other noncurrent assets32,915 445 32,470 >200%Total operating expenses138,954 105,983 32,971 31.1 %Operating loss(135,029)(99,758)(35,271)35.4 %Total other income net7,001 3,396 3,605 106.2 %Loss before income taxes(128,028)(96,362)(31,666)32.9 %Income tax benefit1,793 458 1,335 >200%Net loss$(126,235)$(95,904)$(30,331)31.6 %

Collaboration and licensing revenues

Collaboration and licensing revenues decreased $0.1 million, or 100.0%, compared to the year ended December 31, 2023, primarily due to the termination of the License Agreement with Alaunos in 2024. 

Product and services revenues, and cost of products and services

Product and service revenues decreased $2.2 million or 36.6%, compared to the year ended December 31, 2023. This decrease is related to reductions in products sold and services performed at Exemplar. Costs of