Company: PGEN
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001356090-25-000024
Chunk: 120

Company: PRECIGEN, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 2
Chunk 120
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$75 44.4 %Service revenues1,896 1,592 304 19.1 %Other revenues57 21 36 171.4 %Total revenues2,197 1,782 415 23.3 %Operating expensesCost of product and services2,192 2,089 103 4.9 %Research and development21,966 29,942 (7,976)(26.6)%Selling, general and administrative28,492 20,457 8,035 39.3 %Impairment of goodwill3,907 1,630 2,277 139.7 %Impairment of other noncurrent assets— 32,915 (32,915)(100.0)%Total operating expenses56,557 87,033 (30,476)(35.0)%Operating loss(54,360)(85,251)30,891 (36.2)%Total other income (expense), net(26,432)1,003 (27,435)>(200)%Loss before income taxes(80,792)(84,248)3,456 (4.1)%Income tax (expense) benefit(3)1,718 (1,721)(100.2)%Net loss$(80,795)$(82,530)$1,735 (2.1)%

Product and service revenues 

Product and service revenues increased by $0.4 million, or 22%, compared to the six 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 service increased primarily as a result of higher revenues at Exemplar.

Research and development expenses

Research and development expenses decreased by $8.0 million, or (27)%, compared to the six months ended June 30, 2024. The decrease was primarily due to a $5.6 million decrease in costs associated with ActoBio, including depreciation, amortization, personnel and other research and development costs after the Company closed ActoBio operations in late 2024. Additionally, there was a decrease of $1.5 million at contract research organizations and a $1 million reduction in personnel expenses due to the Company's asset prioritization announced in the third quarter of 2024.

Selling, general and administrative expenses

SG&A expenses increased