Company: PGEN
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001356090-25-000019
Chunk: 30

Company: PRECIGEN, INC.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 free rate of 4.54%, and (v) risky discount rate of 25%. 

PIK dividends of $1,300 is included in Series A Preferred Stock on the accompanying Condensed Balance Sheet as of March 31, 2025.

6. Property, Plant and Equipment, Net

Property, plant and equipment consist of the following:March 31,2025December 31,2024Land and land improvements$164 $164 Buildings and building improvements2,629 2,629 Furniture and fixtures364 364 Equipment16,773 16,774 Leasehold improvements4,487 4,478 Breeding stock90 88 Computer hardware and software3,210 3,186 Construction and other assets in progress10,131 9,019 37,848 36,702 Less: Accumulated depreciation and amortization(23,180)(22,871)Property, plant and equipment, net$14,668 $13,831 Depreciation expense was $310 and $380 for the three months ended March 31, 2025 and 2024, respectively.

7. Goodwill and Intangible Assets, Net

The carrying amount of goodwill was $19,139 as of March 31, 2025 and December 31, 2024.The Company had $32,282 of cumulative impairment losses as of March 31, 2025 and December 31, 2024.Intangible assets consist of the following as of March 31, 2025:

18

Gross Carrying AmountAccumulated AmortizationNetPatents, developed technologies and know-how$15,912 $(11,776)$4,136 Intangible assets consist of the following as of December 31, 2024:Gross Carrying AmountAccumulated AmortizationNetPatents, developed technologies and know-how$15,912 $(11,457)$4,455 

Amortization expense were $319 and $1,215 for the three months ended March 31, 2025 and 2024, respectively.

8. Debt

Line of CreditExemplar has a $5,000 revolving line of credit with American State Bank that matures on November 1, 2025. As of March 31, 2025 and December 31, 2024, the line of credit bore interest at a stated rate of 8.00% per