Caribou Biosciences, Inc.CRBU

Caribou Biosciences, Inc. Segments Disclosure

10-KFiled Mar 5, 20262 min read
Segment Information
We operate and manage our business as one reportable segment and one operating segment, which is the business of developing allogeneic CAR-T cell therapies. Our CODM assesses performance for the segment and decides how to allocate resources based on consolidated net loss that is also reported on our consolidated statements of operations. The measure of segment assets is reported on our consolidated balance sheets as total consolidated assets. All our material long-lived assets are located in the United States. Our CODM uses consolidated net loss to evaluate our spending and monitor our budget versus actual results to assess performance of the segment and to allocate resources across our company. Factors used in determining the reportable segment include the nature of our operating activities, our company’s organizational and reporting structures, and the type of information reviewed by our CODM to allocate resources and evaluate financial performance.
The following table presents reportable segment profit and loss, including significant expense categories, attributable to our reportable segment for the periods indicated:
Years Ended December 31,
20252024
Licensing and collaboration revenue$11,159 $9,994 
Less:
Research and development:
External costs63,70277,649
Internal costs(1)
37,09942,120
Total research and development100,801119,769
General and administrative(2)
30,25236,217
Other segment items(3)
37,05818,461
Other income, net(8,827)(15,348)
Segment and consolidated net loss$(148,125)$(149,105)
(1)Research and development internal costs for the years ended December 31, 2025, and 2024, exclude $5.4 million and $6.9 million of stock-based compensation expense, respectively, and $3.2 million and $3.5 million of depreciation and amortization expense, respectively.
(2)General and administrative expense for the years ended December 31, 2025, and 2024, exclude $7.3 million and $9.8 million of stock-based compensation expense, respectively, and $0.4 million and $0.5 million of depreciation and amortization expense, respectively.
(3)Other segment items for the year ended December 31, 2025, include impairment charges, impairment of equity investment, stock-based compensation expense, depreciation and amortization, and benefit from income taxes.

Historical Timeline

Fiscal YearFiled
2025Mar 5, 2026Showing above
2024Mar 10, 2025

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.

Other Available Disclosures

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