Shattuck Labs, Inc.STTK

Shattuck Labs, Inc. Segments Disclosure

10-KFiled Mar 5, 20262 min read
Segment Reporting
The Company has one reportable and operating segment, which is engaged in the business of drug discovery and development. The Company’s chief operating decision maker (“CODM”) is the Company’s chief executive officer. The CODM uses the Company’s net loss to monitor actual results versus the budget in assessing segment performance and the allocation of resources. The measure of segment assets is reported on the balance sheets as total assets. Accounting policies for segment reporting are the same as the accounting policies disclosed in Note 2.
The following table sets forth information about the Company’s single reportable segment and the significant expenses reviewed by the CODM, including a reconciliation to net loss (in thousands):
Year Ended December 31,
20252024
License and collaboration revenue$1,000 $5,721 
Operating expenses:
Research and development:
SL-3251
10,777 4,574 
SL-1721542,637 27,608 
Other research and development2
9,776 16,010 
Research and development non-equity compensation9,132 14,125 
Research and development equity compensation2,951 4,894 
Total research and development35,273 67,211 
General and administrative expenses:
General and administrative non-equity compensation5,302 5,858 
General and administrative equity compensation4,044 4,653 
Other general and administrative including legal and accounting fees, facilities, insurance, travel and depreciation7,889 8,566 
Total general and administrative17,235 19,077 
Expense from operations52,508 86,288 
Loss from operations(51,508)(80,567)
Other Income (expense):
Interest income2,703 5,174 
Other expense(4)(17)
Total other income 2,699 5,157 
Net loss$(48,809)$(75,410)
1 Expenses for SL-325 that were incurred prior to it being nominated a product candidate are included in “other research and development”.
2 Other research and development expense includes technical operations expense of $2.8 million and $4.2 million, other research and development expense (primarily includes research activities for other pipeline compounds and facility expenses) of $3.4 million and $8.2 million and depreciation expense of $3.5 million and $3.6 million for the years ended December 31, 2025 and 2024, respectively.

Historical Timeline

Fiscal YearFiled
2025Mar 5, 2026Showing above
2024Mar 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.

Other Available Disclosures

Income TaxesPP&ELeasesCommitmentsStock CompensationNew StandardsPay vs Performance