Segment Information

9 Months Ended

Sep. 30, 2025

13. Segment Information

The Company has identified one operating and reportable segment: the development of gene editing-based therapies. All of the Company’s material assets are held in the U.S. and all of the Company’s collaboration revenue has been generated in the U.S. The operating segment’s revenue is primarily generated through collaboration arrangements with third parties. The Company does not have any intra-entity sales or transfers. The Company manages all business activities on a consolidated basis. The Company’s chief operating decision maker (“CODM”) is the chief executive officer.

The accounting policies for the segment are the same as those described in Note 2, “Summary of Significant Accounting Policies,” in the Company’s Annual Report for the year ended December 31, 2024. The CODM evaluates the performance of the operating segment and allocates resources based on net loss that also is reported on the consolidated statements of operations and

comprehensive loss. The CODM uses net loss to monitor budget versus actual results and to analyze cash flows in assessing performance of the segment and allocating resources. The measure of the operating segment assets is reported on the consolidated balance sheets as total assets.

The following table summarizes the reportable segment’s financial information:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2025			2024			2025			2024
Collaboration revenue	$	13,782		$	9,111		$	44,654		$	45,003
Less:
Research and development:
External development expenses - nex-z		19,944			22,842			67,032			51,206
External development expenses - lonvo-z		15,069			11,656			37,790			31,125
Other research and development (1)		59,734			88,882			195,387			267,103
Total research and development		94,747			123,380			300,209			349,434
General and administrative (2)		30,512			30,501			86,725			93,385
Interest income		(6,714	)		(12,122	)		(22,719	)		(37,176	)
Other segment information (3)		(3,439	)		3,064			(2,653	)		29,483
Segment and consolidated net loss	$	(101,324	)	$	(135,712	)	$	(316,908	)	$	(390,123	)

(1)

Includes unallocated research and development expenses, including stock-based compensation of $12.2 million and $38.9 million for the three and nine months ended September 30, 2025, respectively, and $24.2 million and $69.8 million for the three and nine months ended September 30, 2024, respectively, as disclosed within Note 10, “Stock-Based Compensation.”

(2)

Includes stock-based compensation of $7.4 million and $24.6 million for the three and nine months ended September 30, 2025, respectively, and $15.4 million and $44.8 million for the three and nine months ended September 30, 2024, respectively, as disclosed within Note 10, “Stock-Based Compensation.”

(3)

Includes change in fair value of investments as disclosed in the Company’s condensed consolidated statements of operations and comprehensive loss.

Depreciation and amortization expense totaled $2.4 million and $7.4 million for the three and nine months ended September 30, 2025, respectively, and $2.6 million and $7.7 million for the three and nine months ended September 30, 2024, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Intellia Therapeutics, Inc. 10-Q