Arcus Biosciences, Inc.RCUS

Arcus Biosciences, Inc. Segments Disclosure

10-KFiled Feb 25, 20262 min read
Business segment
We operate and manage our business as one reportable and operating segment, which is the business of developing and commercializing highly differentiated therapies that have a meaningful impact on patients. Our chief operating decision maker ("CODM") is the Chief Executive Officer, who decides how to allocate resources and assesses segment performance based on the net loss reported in the Consolidated Statements of Operations.
The table below is a summary of the segment net loss, including significant segment expenses (in millions):
Year Ended
December 31,
2025		Year Ended
December 31,
2024		Year Ended
December 31,
2023
Total revenues$247 $258 $117 
Adjusted for expense (income):
Late-stage development programs (1)
274 252 168 
Early-stage development and preclinical programs (2)
141 132 128 
Compensation and personnel costs245 250 223 
Depreciation and amortization10 10 8 
Impairment of long-lived assets— 20 — 
Interest income, net(33)(48)(39)
Income tax expense— 1 6 
Other segment items (3)
90 89 92 
Partnership reimbursements(127)(165)(162)
Segment net loss and Consolidated net loss$(353)$(283)$(307)
(1) R&D expenses incurred related to a Phase 3 clinical program intended to result in registration of a new product. This includes all unallocated program-level expense not directly attributable to a specific clinical trial once the related program enters into one or more Phase 3 clinical trials.
(2) R&D expenses incurred for activities ranging from early-stage development and preclinical to Phase 2 clinical trials. This includes all unallocated program-level expense not directly attributable to a specific clinical trial unless the related program has entered into one or more Phase 3 clinical trials.
(3) Other segment items includes non-allocated program costs and other G&A costs.
Total segment assets at December 31, 2025 and 2024 were $1.1 billion and $1.2 billion, respectively.

Historical Timeline

Fiscal YearFiled
2025Feb 25, 2026Showing above
2024Feb 25, 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.

Other Available Disclosures

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