CEL SCI CORP Segments Disclosure
15. SEGMENT REPORTING
As the Company operates as one reportable segment, all financial information required by ASC 280 can be found in the accompanying financial statements. The measure of segment assets is total assets as reported on the balance sheets. The Company has not generated any revenue as of the date of these financial statements. In accordance with ASU 2023-07, the Company discloses significant segment expenses that are regularly provided to the CODM and included in the reported measure of segment loss. For the years ended September 30, 2025 and 2024, significant segment expenses include the Company’s operating expenses classified as research & development and general & administrative on the accompanying statements of operations. These significant segment expenses are disaggregated by type in the following table (rounded to the nearest thousand):
|
| Year Ended September 30, |
| |||||
|
| 2025 |
|
| 2024 |
| ||
Research and development: |
|
|
|
|
|
| ||
Salaries, wages & employee benefits |
| $ | 5,900,000 |
|
| $ | 6,050,000 |
|
Stock-based compensation |
|
| 832,000 |
|
|
| 2,896,000 |
|
Depreciation and amortization expense |
|
| 3,846,000 |
|
|
| 3,925,000 |
|
Clinical trial expense |
|
| 615,000 |
|
|
| 315,000 |
|
Supplies & materials |
|
| 2,267,000 |
|
|
| 2,098,000 |
|
Other operating expenses |
|
| 2,427,000 |
|
|
| 2,877,000 |
|
General & administrative: |
|
|
|
|
|
|
|
|
Salaries, wages & employee benefits |
|
| 1,444,000 |
|
|
| 1,450,000 |
|
Stock-based compensation |
|
| 1,078,000 |
|
|
| 1,374,000 |
|
Legal & accounting fees |
|
| 1,054,000 |
|
|
| 616,000 |
|
Public & investor relation costs |
|
| 2,863,000 |
|
|
| 2,209,000 |
|
Other operating expenses |
|
| 2,484,000 |
|
|
| 2,542,000 |
|
Interest expense, net |
|
| 649,000 |
|
|
| 746,000 |
|
Other income, net |
|
| (48,000 | ) |
|
| (178,000 | ) |
Net loss |
| $ | 25,411,000 |
|
| $ | 26,920,000 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Dec 29, 2025 | Showing above |
| 2015 | Dec 11, 2015 | |
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.