Sana Biotechnology, Inc. Segments Disclosure
3. Segment reporting
Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the , the Company's Chief Executive Officer, in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business in one operating segment. When evaluating the Company's financial performance, the CODM reviews total expenses and expenses by function. Further, the CODM reviews the segment's assets based on total assets reported on the consolidated balance sheet.
The table below is a summary of the segment loss, including significant segment expenses (in thousands):
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Twelve months ended December 31, |
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2025 |
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2024 |
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2023 |
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Operating expenses: |
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Research, development, and laboratory |
|
$ |
45,696 |
|
|
$ |
86,522 |
|
|
$ |
112,567 |
|
Facility costs |
|
|
44,253 |
|
|
|
49,429 |
|
|
|
54,778 |
|
Support functions |
|
|
29,425 |
|
|
|
45,587 |
|
|
|
54,355 |
|
Stock-based compensation |
|
|
25,464 |
|
|
|
37,678 |
|
|
|
35,533 |
|
Technical operations and manufacturing |
|
|
21,813 |
|
|
|
39,713 |
|
|
|
52,359 |
|
Portfolio prioritization costs |
|
|
318 |
|
|
|
5,840 |
|
|
|
5,203 |
|
Other(1) |
|
|
9,307 |
|
|
|
14,944 |
|
|
|
20,313 |
|
Research and development related success payments and contingent consideration |
|
|
29,432 |
|
|
|
(8,881 |
) |
|
|
(48,981 |
) |
Impairment of long-lived assets |
|
|
44,611 |
|
|
|
1,891 |
|
|
|
7,014 |
|
Total operating expenses |
|
|
250,319 |
|
|
|
272,723 |
|
|
|
293,141 |
|
Loss from operations |
|
|
(250,319 |
) |
|
|
(272,723 |
) |
|
|
(293,141 |
) |
Interest income, net |
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3,848 |
|
|
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10,471 |
|
|
|
9,938 |
|
Other income (expense), net |
|
|
2,305 |
|
|
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(4,507 |
) |
|
|
(52 |
) |
Net loss |
|
$ |
(244,166 |
) |
|
$ |
(266,759 |
) |
|
$ |
(283,255 |
) |
(1) Other segment expenses include licensing costs, consulting fees, business taxes, and insurance costs for the years ended December 31, 2025, 2024, and 2023, and costs incurred for the early termination of the Fremont lease for the year ended December 31, 2023.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 3, 2026 | Showing above |
| 2024 | Mar 17, 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.