Theravance Biopharma, Inc. Segments Disclosure
3. Segment Information
The Company operates in a single segment, which is the development and commercialization of human therapeutics. The Company has determined that its chief executive officer is the Chief Operating Decision Maker (“CODM”). When evaluating the Company’s financial performance, the CODM reviews total revenues and total expenses and makes financial decisions using this information on a consolidated net income (loss) basis. The measure of segment assets is the Company’s total assets which are reported on the consolidated balance sheets. The Company’s segment revenue and long-lived assets are primarily generated and maintained in the US.
The following table summarizes significant segment expenses:
Year Ended December 31, | ||||||
(In thousands) | | 2025 | | 2024 | ||
Viatris collaboration agreement | $ | 74,964 | $ | 64,381 | ||
Licensing and milestone revenue | 32,500 | — | ||||
Total revenue | 107,464 | 64,381 | ||||
Employee-related (Research and development) 1 | 13,742 | 12,212 | ||||
External-related (Research and development) |
| 16,228 |
| 17,112 | ||
Facilities and other allocated expenses (Research and development) |
| 3,363 |
| 3,215 | ||
Supporting general and administration functions 1 | 29,439 | 27,156 | ||||
Sales and marketing, and medical affairs 1 | 29,818 | 25,729 | ||||
Share-based compensation |
| 18,476 |
| 21,393 | ||
Total recurring operating expenses | 111,066 | 106,817 | ||||
Impairment of long-lived assets | — | 4,513 | ||||
Total operating expenses | 111,066 | 111,330 | ||||
Loss from operations | (3,602) | (46,949) | ||||
Net gain on realized contingent milestone and royalty assets | 75,137 | — | ||||
TRELEGY milestone income | 50,000 | — | ||||
Interest expense (non-cash) | (2,461) | (2,546) | ||||
Interest and other income, net | 10,173 | 4,881 | ||||
Provision for income tax expense | (23,352) | (11,804) | ||||
Net income (loss) | $ | 105,895 | $ | (56,418) | ||
1 Excludes share-based compensation
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 23, 2026 | Showing above |
| 2024 | Mar 7, 2025 | |
| 2023 | Mar 1, 2024 | |
| 2022 | Mar 1, 2023 | |
| 2021 | Feb 28, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 27, 2020 | |
| 2018 | Feb 28, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Mar 1, 2017 | |
| 2015 | Mar 11, 2016 | |
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.