Vyome Holdings, Inc Segments Disclosure
| 15. | Segments |
The Company operates in two segments – the sale of products and licensing/service income in India (“Pharmaceutical Segment”) and the development of biotechnology products (“Biotechnology Segment”), with substantially all of the resources of the Company focused on its biotechnology activities. The Company purchases substantially all of the products for the Pharmaceutical Segment from a third-party manufacturer. Other income items relate to corporate financing activities outside of these two segments.
Reporting by segment is summarized as follows for the years ended December 31, 2025 and 2024:
| For the year ended December 31, 2025 | For the year ended December 31, 2024 | |||||||||||||||||||||||
| Amount in USD | Biotechnology | Pharmaceutical | Total | Biotechnology | Pharmaceutical | Total | ||||||||||||||||||
| Revenues | $ | $ | 319,714 | $ | 319,714 | $ | $ | 256,944 | $ | 256,944 | ||||||||||||||
| Gross margin | 218,771 | 218,771 | 194,970 | 194,970 | ||||||||||||||||||||
| - | ||||||||||||||||||||||||
| Operating expenses: | - | |||||||||||||||||||||||
| Depreciation and amortization | 11,985 | 11,985 | 17,347 | 17,347 | ||||||||||||||||||||
| Selling, general and administrative | 2,279,978 | 85,587 | 2,365,565 | 837,045 | 61,528 | 898,572 | ||||||||||||||||||
| Transactional fees | 7,705,533 | 7,705,533 | ||||||||||||||||||||||
| Research and development | 534,394 | 53,864 | 588,258 | 245,713 | 39,677 | 285,391 | ||||||||||||||||||
| Total Operating expenses | 10,531,890 | 139,451 | $ | 10,671,341 | 1,100,105 | 101,205 | $ | 1,201,310 | ||||||||||||||||
Other Income (expenses) | ||||||||||||||||||||||||
| Interest expense | (146,641 | ) | (146,641 | ) | (206,004 | ) | (206,004 | ) | ||||||||||||||||
| Fair value adjustment | 30,511 | 30,511 | (238,931 | ) | (238,931 | ) | ||||||||||||||||||
| Other income (loss), net | 90,987 | 90,987 | 3,814 | 3,814 | ||||||||||||||||||||
| Other expenses | (25,143 | ) | $ | (25,143 | ) | (441,121 | ) | $ | (441,121 | ) | ||||||||||||||
Net income (loss) | $ | (10,557,033 | ) | $ | 79,320 | $ | (10,477,713 | ) | $ | (1,541,226 | ) | $ | 93,765 | $ | (1,447,461 | ) | ||||||||
| Assets of segment | $ | 6,496,852 | $ | 325 | $ | 6,497,177 | $ | 1,379,267 | $ | 2,294 | $ | 1,381,561 | ||||||||||||
The Company derives revenues from the sale of products, including royalties related to sales of such products and from the license of technology. Substantially all revenues for the years ended December 31, 2025 and 2024 are derived from Sun Pharma, a significant pharmaceutical company based in India. Revenues for the years ended December 31, 2025 and 2024 are summarized as follows:
| Year ending | Year ending | |||||||
| December 31, 2025 | December 31, 2024 | |||||||
| Service fee for arrangements for sale of Dandruff products | $ | $ | 75,147 | |||||
| Licensing and milestone fees – Luliconazole | 116,900 | |||||||
| Sale of products | 174,645 | 134,395 | ||||||
| Royalty income related to above product sales | 28,169 | 47,402 | ||||||
| Total | $ | 319,714 | $ | 256,944 | ||||
In December 2020, the Company entered into a licensing contract for a product with Sun Pharma, whereby the Company would be entitled to development and sales-based milestones and royalties on future sales of the product by Sun Pharma. development milestones, sales-based milestones or royalties have been received under this license during the year ended December 31, 2024, and $116,900 was earned during the year ended December 31, 2025.
During 2024, the Company amended its arrangement with Sun Pharma such that the Company will no longer be responsible for purchasing and selling inventory of the Dandruff Lotion and Shampoo, but instead will receive a net service fee payment for sales of such products made by Sun Pharma. These payments are recorded as service fee revenue in the period earned. This arrangement was terminated in December 2024.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 18, 2026 | Showing above |
| 2024 | Apr 4, 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.