Company: PGEN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001356090-25-000034
Chunk: 59

Company: PRECIGEN, INC.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 59
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 strategic initiative to concentrate resources on its core business. This change also reflects a shift in the manner in which the chief operating decision maker (“CODM”) reviews information to assess the Company’s performance and make resource allocation decisions, in accordance with ASC 280, Segment Reporting. The Company's CODM is its President and Chief Executive Officer ("CEO"). The CODM manages and allocates resources at a consolidated level.Also, beginning in the first quarter of 2025, the CEO began using net loss in accordance with generally accepted accounting principles to assess performance and decide how to allocate resources. The CEO uses net loss to evaluate the allocation of resources across functions and research and development projects in line with our overarching long-term company-wide strategic goals as well as to monitor budget versus actual results. The CEO does not use total assets to evaluate segment performance or allocate resources, and accordingly, these amounts are not required to be disclosed. All prior period segment data has been retrospectively adjusted to reflect the way the Company's CODM internally receives information and manages and monitors our operating segment performance starting in fiscal year 2025.The accounting policies of the Company's single operating segment are the same as those described in the summary of 

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significant accounting policies as described in Note 2. As of September 30, 2025, substantially all of the Company's long-lived assets were held in the United States and there were no revenues derived in foreign countries for any periods presented. Expenditures for the addition of long-lived assets are reported on the consolidated statements of cash flows as purchases of property and equipment.  Total segment net loss, which equals consolidated net loss per the condensed consolidated statements of operations was as follows:Three Months Ended  September 30,Nine months ended  September 30,2025202420252024Revenues from external customers$2,922 $953 $5,119 $2,735 Less:Salaries, benefits and other payroll expenses, including severance costs(17,575)(11,691)(36,482)(34,876)Rent and Utilities(983)(939)(2,788)(3,052)Change in fair value of Warrants liabilities(111,502)— (139,523)— Impairment of Goodwill— — (3,907)(1,630)Impairment of Assets— — — (32,915)Other segment expenses, net(19,206)(12,301)(49,558)(36,770)