Aclaris Therapeutics, Inc. Segments Disclosure
14. Segment Information
The Company operates and reports as one reportable segment, which focuses on identifying and developing innovative therapies to address significant unmet needs for immuno-inflammatory diseases. The segment earns revenue through the licensing of the Company’s intellectual property and the provision of laboratory services. All customers and revenue pertaining to the reportable segment are based in the United States.
When evaluating the Company’s financial performance, the CODM regularly reviews consolidated segment loss, total expense, and direct expenses by project. The CODM allocates resources based on the Company’s available cash resources and forecasted expenditures on a consolidated basis. Segment asset information regularly provided to the CODM is consistent with that reported on the consolidated balance sheet with particular emphasis on the Company’s available liquidity, including its cash, cash equivalents and marketable securities balances.
The following table presents the significant segment expenses and other segment items regularly reviewed by the CODM for the years ended December 31, 2025 and 2024:
Year ended | |||||
December 31, | |||||
(In thousands) | 2025 | 2024 | |||
Contract research | $ | 1,872 | $ | 2,541 | |
Licensing revenue | 5,954 | 16,179 | |||
Total revenue | 7,826 | 18,720 | |||
Cost of revenue | 2,091 | 2,792 | |||
Research and development:(1) | |||||
Bosakitug | 13,845 | 299 | |||
ATI-052 | 7,074 | 1,895 | |||
ATI-2138 | 4,921 | 4,209 | |||
ATI-9494 | 5,371 | 2,360 | |||
Discovery | 3,872 | 3,415 | |||
Total research and development project expenses | 35,083 | 12,178 | |||
Personnel | 11,816 | 11,446 | |||
Other research and development(2) | 5,746 | 9,962 | |||
Total research and development | 52,645 | 33,586 | |||
General and administrative(3) | 21,972 | 22,203 | |||
Licensing | 5,193 | 12,666 | |||
Revaluation of contingent consideration | 2,300 | 2,500 | |||
In-process research and development | — | 86,905 | |||
Segment operating loss | $ | (76,375) | $ | (141,932) | |
Other income | 11,452 | 9,867 | |||
Segment loss before income taxes | $ | (64,923) | $ | (132,065) | |
| (1) | Research and development expenses primarily consist of direct costs incurred to specific programs, including costs to conduct clinical trials and to manufacture clinical drug supply. |
| (2) | Other research and development expenses primarily consist of indirect costs incurred in support of overall research and development activities and non-specific programs, including activities that benefit multiple programs, as well as stock-based compensation. |
| (3) | General and administrative expenses consist principally of salaries and related costs, including stock-based compensation, for personnel in executive, administrative, finance and legal functions, as well as facility-related costs, professional fees, business development costs, insurance costs, and travel expenses. |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 27, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Feb 25, 2021 | |
| 2019 | Feb 25, 2020 | |
| 2018 | Mar 18, 2019 | |
| 2017 | Mar 12, 2018 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.