Company: PGEN
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001356090-25-000024
Chunk: 98

Company: PRECIGEN, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 98
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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%, compared to the three months ended June 30, 2024. The decrease was primarily due to a $3.8 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 $0.5 million incurred at contract research organizations as a