Company: PGEN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001356090-25-000034
Chunk: 123

Company: PRECIGEN, INC.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 123
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5.

Comparison of the nine months ended September 30, 2025 and the nine months ended September 30, 2024 

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

38

 Nine months ended  September 30,DollarChangePercentChange 20252024  RevenuesCollaboration and licensing revenues$1,818 $— $1,818 N/AProduct revenues406 235 $171 72.8 %Service revenues2,838 2,478 360 14.5 %Other revenues57 22 35 159.1 %Total revenues5,119 2,735 2,384 87.2 %Operating expensesCost of product and services3,227 3,098 129 4.2 %Research and development34,343 41,312 (6,969)(16.9)%Selling, general and administrative52,483 30,293 22,190 73.3 %Impairment of goodwill3,907 1,630 2,277 139.7 %Impairment of other noncurrent assets— 32,915 (32,915)(100.0)%Total operating expenses93,960 109,248 (15,288)(14.0)%Operating loss(88,841)(106,513)17,672 (16.6)%Total other expense, net(138,295)(1,701)(136,594)>200%Loss before income taxes(227,136)(108,214)(118,922)109.9 %Income tax (expense) benefit(3)1,706 (1,709)(100.2)%Net loss$(227,139)$(106,508)$(120,631)113.3 %Deemed dividend on preferred stock$(179,000)$— $(179,000)— %Net loss attributable to common shareholders$(406,139)$(106,508)$(299,631)>200%Net loss per share attributable to common shareholders, basic and diluted$(1.36)$(0.41)$(0.95)<200%

Total revenues

Total revenues increased by $2.4 million, or 87% primarily driven by the increase in collaboration and licensing revenues. In September 2025, the Company and P