uniQure N.V. Segments Disclosure
16. Segment reporting
The Company is advancing a pipeline of innovative gene therapies seeking to deliver to patients suffering from rare and other devastating diseases single treatments with potentially curative results. The Company manages the operations related to these research and development activities within one operating segment because they rely on a common set of infrastructure, resources and technology of the products and production processes, types of customers, distribution methods and regulatory environment.
The leadership team is identified as the CODM.
The CODM allocates resources to research projects and clinical candidates based on scientific data as well as quantitative and qualitative expected risk adjusted returns on investment. The CODM uses segment operating loss to monitor that cash operating losses remain within the approved budget.
The Company does not evaluate performance or allocate resources based on segment asset data and therefore such information is not presented. Refer to Note 7 “Property, plant and equipment, net” and Note 8 “Right-of-use asset and lease liabilities” for geographic information related to long-lived assets.
The accounting policies of the operating segment are the same as those described in the summary of significant accounting policies.
Year ended December 31, | |||||||||
| 2025 | | 2024 | | 2023 | ||||
(in thousands) | |||||||||
Revenue | $ | 16,098 | $ | 27,119 | $ | 15,843 | |||
Less: |
| ||||||||
Employee related expenses |
| (56,653) |
| (75,184) |
| (98,903) | |||
Laboratory and development expenses | (69,292) | (47,848) | (44,346) | ||||||
Professional fees | (14,969) | (8,503) | (16,918) | ||||||
Facility expenses | (6,933) | (14,247) | (21,550) | ||||||
Consumables | (3,254) | (9,172) | (19,029) | ||||||
Other segment items(a) (b) | (9,052) | (12,482) | (28,299) | ||||||
Segment operating loss | (144,056) | (140,317) | (213,202) | ||||||
Reconciliation | |||||||||
Depreciation and amortization expense | (14,759) | (12,641) | (11,900) | ||||||
Share-based compensation expense | (17,679) | (22,258) | (35,093) | ||||||
Fair value (loss) / gain - contingent consideration | (6,247) | 1,817 | (15,895) | ||||||
Fair value gain - liability related to pre-funded warrants | 12,405 | — | |||||||
Foreign currency gains / (losses), net | 26,131 | (10,507) | (1,691) | ||||||
Interest income | 16,967 | 21,415 | 19,562 | ||||||
Interest expense - Royalty Financing Agreement | (54,099) |
| (50,865) |
| (26,934) | ||||
Interest expense - Hercules debt facility | (6,924) | (12,876) | (14,623) | ||||||
Other reconciling items(c) (d) | (5,079) | (10,895) | (6,781) | ||||||
Consolidated loss before income tax expense | $ | (193,340) | $ | (237,127) | $ | (306,557) | |||
| (a) | Other segment items included in segment operating loss include costs related to intellectual property, information technology and insurance offset by income related to payments received from European authorities to subsidize the Company’s research and development in the Netherlands and France. |
| (b) | For the year ended December 31, 2023, other segment items include $10.0 million related to the upfront consideration paid to Apic Bio for the global licensing agreement for AMT-162. |
| (c) | For the year ended December 31, 2024, other reconciling items include costs related to the divestment of the Company’s commercial manufacturing activities and the August 2024 reorganization. |
| (d) | For the year ended December 31, 2023, other reconciling items include costs related to the October 2023 reorganization and professional fees related to the Apic Bio transaction. |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 2, 2026 | Showing above |
| 2024 | Feb 27, 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.