Zentalis Pharmaceuticals, Inc.ZNTL

Zentalis Pharmaceuticals, Inc. Segments Disclosure

10-KFiled Mar 26, 20252 min read
Segment Reporting and Disaggregation of Relevant Expense Captions
The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions. The determination of a single business segment is consistent with the consolidated financial information periodically reviewed by the Chief Executive Officer as chief operation decision maker ("CODM") in assessing segment performance and deciding how to allocate resources.

The CODM uses net income or loss to monitor budgets, forecasts and expected cash flows in assessing segment performance and in deciding how to allocate resources. The measure of segment assets is reported on the consolidated balance sheets as total assets.
The following table presents information about reported significant segment expenses and net loss (in thousands):
 
Year ended December 31,
202420232022
Revenues
$67,425 $— $— 
Less:
Research and development (1):
Azenosertib external development costs
75,837 67,019 48,841 
Unallocated research and development expenses and discontinued programs
91,931 122,571 123,893 
Total Research and development
167,768 189,590 172,734 
General and administrative
87,115 64,351 54,553 
Other (2)
(21,591)$38,364 9,826 
Net loss
(165,867)(292,305)(237,113)
Adjustments for cash used in operations:
Non-Cash expenses
11,547 78,619 60,110 
Changes in working capital
(16,540)5,864 13,252 
Cash used in operations:
$(170,860)$(207,822)$(163,751)

(1) The Company tracks external development costs by product candidate or development program, but does not allocate personnel costs, general license payments made under our licensing arrangements or other internal costs to specific development programs or product candidates. These costs are included in unallocated research and development expenses and discontinued programs.

(2) Other consists of investment and other income, impairment charges, Zentera in-process research and development, Income tax expense (benefit), and loss on equity method investment.
Intra-entity sales were not significant for 2024, 2023 or 2022.
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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

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