Celularity Inc Segments Disclosure

21. Segment Information

 

The Company regularly reviews its segments and the approach used by management to evaluate performance and allocate resources. The Company manages its operations through an evaluation of three distinct business segments: Cell Therapy, BioBanking, and Degenerative Disease. The chief operating decision maker uses the revenues and earnings (losses) of the operating segments, among other factors, for performance evaluation and resource allocation among these segments. The Company’s chief operating decision maker is the Company’s Chief Executive Officer.

 

The reportable segments were determined based on the distinct nature of the activities performed by each segment. Cell Therapy broadly refers to therapies the Company is researching and developing. Therapies being researched are unproven and in various phases of development. Degenerative Disease produces, sells and licenses products used in surgical and wound care markets. BioBanking collects stem cells from umbilical cords and placentas and provides storage of such cells on behalf of individuals for future use.

 

The Company manages its assets on a total company basis, not by operating segment. Therefore, the chief operating decision maker does not regularly review any asset information or related income statement effects by operating segment and, accordingly, asset information is not reported by operating segment. Total assets were $107,329 and $132,682 as of December 31, 2025, and December 31, 2024, respectively.

 

 

Financial information by segment is as follows:

 

Schedule of Financial Information by Segment

		Cell Therapy				BioBanking				Degenerative Disease			Total
		Year Ended December 31, 2025
		Cell Therapy				BioBanking				Degenerative Disease			Total
Net revenues		$	3,807			$	5,432			$	17,311		$	26,550
Cost of revenues (excluding amortization of acquired intangible assets)			—				859				19,215			20,074
Direct expenses			13,194				1,371				12,922			27,487
Segment contribution		$	(9,387	)		$	3,202			$	(14,826	)	$	(21,011	)
Other general and administrative expenses														38,804
Amortization														1,493
Loss from operations													$	(61,308	)
Other expenses														(30,405	)
Loss before income taxes													$	(91,713	)

 

		Cell Therapy				BioBanking				Degenerative Disease				Total
		Year Ended December 31, 2024
		Cell Therapy				BioBanking				Degenerative Disease				Total
Net revenues		$	688			$	5,140			$	48,392			$	54,220
Cost of revenues (excluding amortization of acquired intangible assets)			—				1,172				13,817				14,989
Direct expenses			15,807				1,673				20,846				38,326
Segment contribution		$	(15,119	)		$	2,295			$	13,729			$	905
Other general and administrative expenses															37,703
Indirect expenses															1,560	(a)
Loss from operations														$	(38,358	)
Other expenses															(19,534	)
Loss before income taxes														$	(57,892	)
(a) Components of indirect expenses
Change in fair value of contingent consideration liability														$	(193	)
Amortization															1,753
Total indirect expenses														$	1,560