BiomX Inc. Segments Disclosure
| NOTE 18 - | SEGMENT INFORMATION |
The Company operates as a operating segment, as a clinical stage product discovery company developing products using both natural and engineered phage technologies. The Company’s chief operating decision-maker “(CODM)” is its , who reviews financial information presented on a consolidated basis. The CODM uses consolidated Net loss and Operating loss to monitor budget versus actual results in assessing segment performance and the allocation of resources. Significant segment expenses are presented in the Company’s consolidated statements of operations.
Additional disaggregated significant segment expenses on a functional basis, that are not separately presented on the Company’s consolidated statements of operations, regularly reviewed by our CODM, include salaries and clinical trials expenses and presented below.
| Year ended December 31, | ||||||||
| 2025 | 2024 | |||||||
| Operating expenses: | ||||||||
| Research and development salaries and related expenses, other than stock-based compensation | 4,493 | 7,406 | ||||||
| General and administrative salaries and related expenses, other than stock-based compensations | 2,707 | 3,101 | ||||||
| Clinical trials | 12,720 | 12,301 | ||||||
| Research and development stock based compensation | 711 | 600 | ||||||
| General and administrative stock based compensation | 1,380 | 1,248 | ||||||
| Research and development depreciation expenses | 2,306 | 1,486 | ||||||
| General and administrative depreciation expenses | 616 | 317 | ||||||
| Goodwill, IPR&D and Other long-lived asset impairment | 13,495 | 8,084 | ||||||
| Other segment items (*) | 3,038 | 9,980 | ||||||
| Total Operating expenses | 41,466 | 44,523 | ||||||
| (*) | Other segment items include gain from early lease termination and all remaining costs necessary to operate our business, which primarily include external professional services, rent, insurance and other administrative expenses, and are presented net of grants received. |
The Company’s Property and equipment, as well as the Company’s operating lease right-of-use assets recognized on the consolidated balance sheets were located as follows:
| As of December 31, | ||||||||
| 2025 | 2024 | |||||||
| Foreign - Israel | 157 | 6,090 | ||||||
| Domestic - United States | 4,412 | |||||||
| Total | 157 | 10,502 | ||||||
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.