Company: PGEN
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001356090-25-000024
Chunk: 118

Company: PRECIGEN, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 2
Chunk 118
---
 value of warrant liabilities and interest earned on our cash and cash equivalents and short-term and long-term investments, which may fluctuate based on amounts invested and current interest rates.

Results of operations

Comparison of the three months ended June 30, 2025 and the three months ended June 30, 2024 

The following table summarizes our results of operations for the three months ended June 30, 2025 and 2024 (dollars in thousands):

 Three Months Ended  June 30,DollarChangePercentChange 20252024  Product revenues$41 $31 $10 32.3 %Service revenues781 673 108 16.0 %Other revenues34 13 21 161.5 %Total revenues856 717 139 19.4 %Operating expensesCost of product and services1,092 1,014 78 7.7 %Research and development11,488 15,693 (4,205)(26.8)%Selling, general and administrative16,133 10,306 5,827 56.5 %Impairment of goodwill3,907 1,630 2,277 139.7 %Impairment of other noncurrent assets— 32,915 (32,915)(100.0)%Total operating expenses32,620 61,558 (28,938)(47.0)%Operating loss(31,764)(60,841)29,077 (47.8)%Total other income (expense), net5,125 360 4,765 >200%Loss before income taxes(26,639)(60,481)33,842 (56.0)%Income tax (expense) benefit (3)1,689 (1,692)(100.2)%Net loss$(26,642)$(58,792)$32,150 (54.7)%

32

Product, service and other revenues

Product, service and other revenues increased $0.1 million, or 19%, compared to the three months ended June 30, 2024. This increase was primarily related to increased volume of products sold and services rendered at Exemplar. 

Cost of product and services

Cost of product and services slightly increased, primarily as a result of higher revenues at Exemplar. 

Research and development expenses

Research and development expenses decreased by $4.2 million, or 27