Company: KROS
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001664710-25-000070
Chunk: 243

Company: Keros Therapeutics, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 243
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31, 2024 consisted of unearned revenue, current of $0.9 million and zero, respectively, and were primarily related to the portion of the upfront payment received from Takeda that was allocated to the Transition Services. These amounts are to be recognized over the remaining estimated transition period expected to be complete by the end of 2025.Revenue recognized from Takeda for the three and six months ended June 30, 2025 and 2024 is as follows (in thousands):THREE MONTHS ENDED JUNE 30,SIX MONTHS ENDED JUNE 30,2025202420252024License revenue$— $— $195,355 $— Service revenue$18,168 $— $34,005 $— Total revenue from Takeda$18,168 $— $229,360 $— 

12. SEGMENT REPORTING

18

The following table presents segment revenue and significant segment expenses (in thousands) for the three and six months ended June 30, 2025 and 2024:THREE MONTHS ENDED JUNE 30,SIX MONTHS ENDED JUNE 30,2025202420252024REVENUE:Total segment revenue18,168 37 229,414 120 LESS:KER-065 program expenses(1,431)(2,926)(2,948)(7,290)Elritercept program expenses(15,636)(11,001)(34,531)(19,585)Cibotercept program expenses(4,059)(6,731)(9,967)(12,202)Preclinical & development expenses(1,981)(2,733)(3,725)(6,116)Compensation costs (excluding stock based compensation)(13,842)(11,641)(27,619)(23,356)Stock-based compensation(8,542)(8,785)(17,405)(16,855)Depreciation expense(370)(305)(714)(583)Other segment items2(12,345)(6,550)(20,841)(13,688)Dividend income7,120 5,378 13,912 11,184 Income tax (provision) benefit2,222 — (7,821)— Net income (loss)(30,696)(45,257)117,755 (88,371)The Company manages its operations as a single