Company: PGEN
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001356090-25-000007
Chunk: 252

Company: PRECIGEN, INC.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 12
Chunk 252
---
523)(16,481)Change in valuation allowance for deferred tax assets30,783 23,065 16,292 Total income tax benefit from continuing operations$(1,793)$(458)$(189)The tax effects of temporary differences that comprise the deferred tax assets and liabilities included in continuing operations as of December 31, 2024, and 2023, are as follows:20242023Deferred tax assetsAllowance for doubtful accounts$— $48 Equity securities and investments in affiliates472 413 Property, plant and equipment237 369 Intangible assets56,113 64,013 Accrued liabilities2,478 3,262 Lease liabilities1,383 1,834 Stock-based compensation14,205 14,465 Deferred revenue503 478 Capitalized research and development cost29,796 23,918 Research and development tax credits16,232 13,577 Net operating, capital loss, and interest expense carryforwards283,926 311,154 Total deferred tax assets405,345 433,531 Less: (Valuation allowance)404,074 424,432 Net deferred tax assets1,271 9,099 Deferred tax liabilitiesRight-of-use assets1,271 1,830 Foreign intangible asset— 9,116 Total deferred tax liabilities1,271 10,946 Net deferred tax liabilities included in continuing operations$— $(1,847)

F-34

Activity within the valuation allowance for deferred tax assets included in continuing operations during the years ended December 31, 2024, 2023, and 2022 was as follows:202420232022Valuation allowance at beginning of year$424,432 $401,086 $408,396 Increase (decrease) in valuation allowance as a result ofCurrent year continuing operations30,783 23,065 16,292 Discontinued operations treated as asset sales— — (27,909)Expired attributes(50,269)— — Adoption of ASU 2020-06— — 4,698 Foreign currency translation adjustment(872)281 (391)Valuation allowance at end of year$404,074 $424,432 $401,086 In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not