PALATIN TECHNOLOGIES INC Segments Disclosure
(11) SEGMENT INFORMATION
The Company views its operations and manages its business in one operating segment: life science. The table below summarizes the significant expense categories for the life science segment regularly provided to the Company’s Chief Financial Officer / Chief Operating Officer (the “CFO / COO”), its Chief Operating Decision Maker (the “CODM”).
The accounting policies of the Company’s segment are the same as those described in the summary of significant accounting policies. The CODM assesses performance for its segment based on net loss, which is reported on the consolidated statements of operations. The measure of segment assets is reported on the balance sheet as total assets. The CODM uses cash forecast models in deciding how to invest into the segment. The CODM analyzes the Company’s net loss and monitors budget versus actual results to assess the performance of the Company.
|
| Year Ended June 30, |
| |||||
|
| 2025 |
|
| 2024 |
| ||
Total Revenues |
| $ | - |
|
| $ | 4,490,090 |
|
Less: |
|
|
|
|
|
|
|
|
Cost of Product Sales |
|
| - |
|
|
| 97,637 |
|
Program Spend |
|
| 8,548,616 |
|
|
| 15,512,148 |
|
Personnel Costs |
|
| 9,496,251 |
|
|
| 12,053,825 |
|
Administrative Costs (a) |
|
| 4,662,973 |
|
|
| 7,107,888 |
|
Gain on Sale of Vyleesi |
|
| (3,130,000 | ) |
|
| (7,781,844 | ) |
Gain on Purchase Commitment |
|
| (2,117,900 | ) |
|
| - |
|
Offering expenses |
|
| - |
|
|
| (696,912 | ) |
Change in fair value of warrant liabilities |
|
| - |
|
|
| (6,962,562 | ) |
Other Segment Items (b) |
|
| (152,591 | ) |
|
| (419,482 | ) |
Segment net loss |
| $ | (17,307,349 | ) |
| $ | 29,736,113 |
|
(a) Contains depreciation and amortization which is disclosed in the consolidated financial statements
(b) Other segement items include investment income, interest expense and foreign currency (gain)loss, which are disclosed in the consolidated financial statements.
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.