Company: KROS
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001664710-25-000046
Chunk: 171

Company: Keros Therapeutics, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 171
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 zero, respectively, and were primarily related to the portion of the upfront payment received from Takeda that was allocated to the Transition Services. These amounts are to be recognized over the remaining estimated transition period expected to be complete by the end of 2025.Revenue recognized from Takeda for the three months ended March 31, 2025 and 2024 is as follows (in thousands):

17

THREE MONTHS ENDED MARCH 31,20252024License revenue$195,355 $— Service revenue$15,837 $— Total revenue from Takeda$211,192 $— 

12. SEGMENT REPORTING

The following table presents segment revenue and significant segment expenses (in thousands) for the three months ended March 31, 2025 and 2024:THREE MONTHS ENDED March 31,20252024REVENUE:Total segment revenue211,246 83 LESS:Cibotercept program expenses(5,908)(5,471)KER-065 program expenses(1,517)(4,364)Elritercept program expenses(18,895)(8,584)Preclinical & development expenses(1,744)(3,383)Compensation costs (excluding stock based compensation)(13,777)(11,715)Stock-based compensation(8,863)(8,070)Depreciation expense(344)(277)Other segment items1(8,496)(7,139)Dividend income6,792 5,806 Income tax provision(10,043)— Net income (loss)148,451 (43,114)The Company manages its operations as a single reportable segment focused on developing novel therapeutics. Segment revenue above is 100 percent attributed to the Company’s agreements with Takeda and Hansoh and is equal to consolidated total revenue. All revenues are derived in the United States where the agreements originated. The Company manages expenses on a program level. The significant expense categories outlined above align with the segment-level information that is regularly provided to the chief operating decision maker (“CODM”) to allocate resources, assess performance of the reportable segment, and make key operating decisions. On a quarterly basis, the Company's CODM, who is its Chief Executive Officer, reviews financial information, including consolidated net income, clinical expenses by program, other company expenses and a long-range cash flow projection, to make resource decisions for the Company’s programs to achieve the approved corporate goals. No segment