Company: KROS
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001664710-25-000070
Chunk: 301

Company: Keros Therapeutics, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 301
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 of $0.1 million in personnel expenses, which includes a decrease of $0.6 million of stock-based compensation costs, partially offset by a net increase of $0.7 million in salaries and bonus, severance, benefits and other payroll costs.

Total Other Income, Net

Total other income, net was $6.9 million for the three months ended June 30, 2025, compared to $5.2 million for the three months ended June 30, 2024. The increase of $1.7 million was primarily driven by an increase of $1.7 million in dividend income.

Income Tax (Provision) Benefit

Income tax benefit was $2.2 million for the three months ended June 30, 2025, compared to zero for the three months ended June 30, 2024. The increase of $2.2 million in income tax benefit is attributed to taxable income generated from the Takeda Agreement.

Comparison for the six months ended June 30, 2025 and 2024

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

SIX MONTHS ENDED JUNE 30,20252024REVENUE:Service and other revenue$34,059 $120 License revenue195,355 — Total revenue229,414 120 OPERATING EXPENSES:Research and development(92,212)(78,773)General and administrative(24,979)(20,269)Total operating expenses(117,191)(99,042)INCOME (LOSS) FROM OPERATIONS112,223 (98,922)OTHER INCOME (EXPENSE), NETDividend income13,912 11,184 Other expense, net(559)(633)Total other income, net13,353 10,551 Income (loss) before income taxes125,576 (88,371)Income tax (provision) benefit(7,821)— Net income (loss)$117,755 $(88,371)

Revenue

27

We recognized $195.4 million of license revenue and $34.0 million of service and other revenue related to the Takeda Agreement for the six months ended June 30, 2025, compared to zero for the six months ended June 30, 2024. We recognized $0.1 million of service and other revenue related to the Hansoh Agreement