Silence Therapeutics plc Segments Disclosure
4. Segment reporting
The CODM reviews Consolidated net loss for the year when assessing the Group’s performance, allocating resources and establishing management’s compensation. In addition to Consolidated net loss, the CODM receives discrete information for revenue by major customer and geographic location. Consolidated net loss is used to monitor budget versus actual results and is reviewed against the Group’s peers and competitors as benchmarking. The Group operates as one reportable segment in the specific technology field of RNA therapeutics.
The accounting policies of its operating segment are the same as those described in the Group’s summary of significant accounting policies.
The Group derives revenues from customers through royalty income and research collaboration agreements, each representing a major customer, specifically related to the development of RNAi-based medicines. Refer to Note 3 – Revenue for a further description of the types of products from which the Group derives its revenues.
The measure of segment assets is reported on the balance sheet as total consolidated assets.
The table below provides segment information about the Group:
|
|
Year Ended December 31, |
|
|||||
|
|
|
2025 |
|
|
|
2024 |
|
|
|
$000s |
|
|
$000s |
|
||
Revenue |
|
|
559 |
|
|
|
43,258 |
|
Less: |
|
|
|
|
|
|
||
Cost of sales |
|
|
(215 |
) |
|
|
(11,810 |
) |
Contracted research and development costs (a) |
|
|
(44,873 |
) |
|
|
(42,902 |
) |
Personnel research and development costs (b) |
|
|
(18,086 |
) |
|
|
(20,503 |
) |
Other R&D costs (c) |
|
|
(4,794 |
) |
|
|
(4,478 |
) |
General & administrative expenses |
|
|
(22,344 |
) |
|
|
(26,884 |
) |
Restructuring |
|
|
(1,324 |
) |
|
|
- |
|
Tax expense |
|
|
(11 |
) |
|
|
(845 |
) |
Other segment items (d) |
|
|
2,476 |
|
|
|
18,855 |
|
Consolidated net loss |
|
|
(88,612 |
) |
|
|
(45,309 |
) |
An analysis of the group’s assets and revenues by location is shown below:
|
|
U.S.A. |
|
|
U.K. |
|
|
Germany |
|
|
Total |
|
||||
|
|
$000s |
|
|
$000s |
|
|
$000s |
|
|
$000s |
|
||||
Non-current assets |
|
|
|
|
|
|
|
|
|
|
|
|
||||
As at December 31, 2024 |
|
|
- |
|
|
|
4,103 |
|
|
|
11,166 |
|
|
|
15,269 |
|
As at December 31, 2025 |
|
|
- |
|
|
|
600 |
|
|
|
12,184 |
|
|
|
12,784 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Revenue analysis for the year ended December 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Research collaboration |
|
|
- |
|
|
|
30,934 |
|
|
|
- |
|
|
|
30,934 |
|
Royalties |
|
|
- |
|
|
|
- |
|
|
|
709 |
|
|
|
709 |
|
|
|
|
- |
|
|
|
30,934 |
|
|
|
709 |
|
|
|
31,643 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Revenue analysis for the year ended December 31, 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Research collaboration |
|
|
- |
|
|
|
43,114 |
|
|
|
- |
|
|
|
43,114 |
|
Royalties |
|
|
- |
|
|
|
- |
|
|
|
144 |
|
|
|
144 |
|
|
|
|
- |
|
|
|
43,114 |
|
|
|
144 |
|
|
|
43,258 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Revenue analysis for the year ended December 31, 2025 |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Research collaboration |
|
|
- |
|
|
|
559 |
|
|
|
- |
|
|
|
559 |
|
Royalties |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
|
- |
|
|
|
559 |
|
|
|
- |
|
|
|
559 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 5, 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.