KYNTRA BIO, INC. Segments Disclosure
15. Segment and Geographic Information
The Company has one operating and reporting segment which primarily focuses on the development and commercialization of novel therapeutics to treat serious unmet medical needs. The Company has determined that the is the chief operating decision maker (“CODM”). The CODM assesses performance of the business, monitors budget versus actual results and manages and allocates resources to the Company’s operations using consolidated net income (loss) as the primary measurement. The CODM is regularly provided with entity-wide expense categories that are consistent with those found on the Company’s consolidated statements of operations. These significant segment expenses include cost of goods sold, research and development expenses, selling, general and administrative expenses, and restructuring charge. Other segment items that are presented on the consolidated statements of operations include interest expense, loss on debt extinguishments, interest income and other income (expense), net, and provision for (benefit from) income taxes. The measure of segment assets is reported on the balance sheet as total consolidated assets.
Supplemental enterprise-wide information is presented below.
Geographic Revenues
Geographic revenues, which are based on the region that revenue is generated, are as follows (in thousands):
|
|
Years Ended December 31, |
|||||||
|
|
2025 |
|
|
2024 |
|
|
||
United States |
|
$ |
— |
|
|
$ |
26,114 |
|
|
Europe |
|
|
5,643 |
|
|
|
6,270 |
|
|
Japan |
|
|
797 |
|
|
|
(2,854 |
) |
|
China |
|
|
— |
|
|
|
91 |
|
|
Total revenue |
|
$ |
6,440 |
|
|
$ |
29,621 |
|
|
Customer Concentration
The Company’s revenues have been generated from the following collaboration partners that individually accounted for 10% or more of the Company’s total revenue:
|
|
Percentage of Revenue |
|
|||||
|
|
Years Ended December 31, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
AstraZeneca |
|
|
— |
% |
|
|
88 |
% |
Astellas |
|
|
100 |
% |
|
|
12 |
% |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 16, 2026 | Showing above |
| 2024 | Mar 17, 2025 | |
| 2023 | Feb 26, 2024 | |
| 2022 | Feb 27, 2023 | |
| 2021 | Feb 28, 2022 | |
| 2020 | Mar 1, 2021 | |
| 2019 | Mar 2, 2020 | |
| 2018 | Feb 27, 2019 | |
| 2017 | Feb 27, 2018 | |
| 2016 | Mar 1, 2017 | |
| 2015 | Feb 29, 2016 | |
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.