Spero Therapeutics, Inc. Segments Disclosure
14. Segment Information
The Company manages its operations as a single operating segment for the purpose of assessing performance and making operating decisions, resulting in a single reportable segment. The Company’s singular focus is on identifying and developing novel treatments for rare diseases and diseases with high unmet need. The Company earns revenue from collaboration agreements with third parties and grant revenue in connection with various government awards. The Company has determined that its Chief Operating Decision Maker (“CODM”) is its Chief Executive Officer. The CODM reviews the Company’s financial information on a consolidated basis for the purpose of allocating resources and assessing financial performance. The measure of segment assets is reported on the balance sheet as total consolidated assets. All the Company’s tangible assets are held in the United States.
The accounting policies for the operating segment are consistent with the Company’s policies for the consolidated financial statements. The key measure of segment profit or loss that the CODM uses to allocate resources and assess performance is the Company’s consolidated profit or loss, as reported on the consolidated statements of operations and comprehensive loss. This is reviewed against budgeted expectations to assess segment performance and allocate resources. The Company's reportable segment net revenues, significant segment expenses and consolidated profit (loss) for the years ended December 31, 2025 and 2024, consisted of the following (in thousands):
|
Year Ended December 31, |
|
|||||
|
2025 |
|
|
2024 |
|
||
Revenues: |
|
|
|
|
|
||
Grant revenue |
$ |
7,183 |
|
|
$ |
20,581 |
|
Collaboration revenue - related party |
|
47,033 |
|
|
|
27,025 |
|
|
12,586 |
|
|
|
371 |
|
|
Total revenues |
|
66,802 |
|
|
|
47,977 |
|
|
|
|
|
|
|
||
Less: |
|
|
|
|
|
||
Tebipenem HBr |
|
22,562 |
|
|
|
60,502 |
|
SPR720 |
|
985 |
|
|
|
16,626 |
|
SPR206 |
|
49 |
|
|
|
570 |
|
Research and development personnel related (including share-based compensation) |
|
9,631 |
|
|
|
14,111 |
|
Facility related and other, research and development |
|
5,240 |
|
|
|
4,948 |
|
General and administrative personnel related (including share-based compensation) |
|
11,792 |
|
|
|
13,188 |
|
Professional and consultant fees |
|
7,435 |
|
|
|
8,198 |
|
Facility related and other, general and administrative |
|
1,949 |
|
|
|
2,318 |
|
Other segment items* |
|
838 |
|
|
|
817 |
|
Interest income |
|
(2,512 |
) |
|
|
(4,735 |
) |
Income tax expense |
|
261 |
|
|
|
- |
|
Consolidated profit (loss) |
$ |
8,572 |
|
|
$ |
(68,566 |
) |
*Other segment items include restructuring charges (see Note 9), impairment of long-term asset and other income, net.
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 26, 2026 | Showing above |
| 2024 | Mar 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.