SERA PROGNOSTICS, INC. Segments Disclosure
16. Segment Information
The Company’s revenue was generated in the U.S. for all periods presented and its assets are all located in the United States. Since the Company operates as one operating segment, total segment assets are equivalent to total assets reported on the balance sheets.
The following table presents segment information for revenue, significant segment expenses, and net loss, as regularly provided to the CODM, for the years ended December 31, 2025 and 2024 (in thousands):
|
Year Ended |
|
|||||
|
December 31, |
|
|||||
|
2025 |
|
|
2024 |
|
||
Revenue |
$ |
81 |
|
|
$ |
77 |
|
Less: |
|
|
|
|
|
||
Cost of revenue |
|
164 |
|
|
|
82 |
|
Payroll related expenses |
|
16,745 |
|
|
|
13,269 |
|
Consulting and professional fees |
|
6,944 |
|
|
|
7,581 |
|
Stock-based compensation expense |
|
5,110 |
|
|
|
7,013 |
|
Equipment, lab supplies, and facility expenses |
|
1,527 |
|
|
|
1,635 |
|
Clinical studies and outside processing |
|
1,579 |
|
|
|
3,383 |
|
Depreciation and amortization(1) |
|
824 |
|
|
|
814 |
|
Other segment items(2) |
|
3,692 |
|
|
|
2,935 |
|
Loss from operations |
|
(36,504 |
) |
|
|
(36,635 |
) |
Interest expense |
|
(9 |
) |
|
|
(28 |
) |
Other income, net |
|
4,585 |
|
|
|
3,765 |
|
Net loss |
$ |
(31,928 |
) |
|
$ |
(32,898 |
) |
(1) Certain amortization amounts are included within cost of revenue.
(2) Other segment items consist primarily of insurance costs, IT services, travel expenses, marketing expenses, taxes, and other miscellaneous expense.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 18, 2026 | Showing above |
| 2024 | Mar 19, 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.