Segment Information (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Reportable Segment Profit and Loss, Including Significant Expense Categories, Attributable to the Company's Reportable Segment

The following table summarizes information about segment revenue, significant segment expenses and segment operating loss for the periods presented (in thousands):


	Years Ended December 31,
	2025			2024			2023
Revenue1:
Collaboration revenue		—		$	35,000		$	370,000
Grant revenue		3,510			2,314			1,206
Less2:
Research and development expense3		239,872			252,010			330,121
Acquired in-process research and development4		96,253			—			—
General and administrative expense5		26,570			25,453			32,589
Collaboration expense, net		213,480			120,667			130,250
Stock-based compensation expense		72,499			86,567			81,028
Depreciation expense		19,407			19,183			19,756
Other segment items6		(82,972	)		(100,314	)		(68,928	)
Segment net loss		(581,599	)		(366,252	)		(153,610	)
Reconciliation of profit or loss:
Adjustments or reconciling items		—			—			—
Consolidated net loss		(581,599	)		(366,252	)		(153,610	)

(1) Collaboration revenue for the years ended December 31, 2025, 2024 and 2023 is related to our license agreements and collaborations with Vertex, as further described in Note 8 of the notes to the consolidated financial statements included in this Annual Report on Form 10-K. Collaboration revenue is attributed to the CRISPR Therapeutics AG entity, which is domiciled in Switzerland.

(2) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(3) Research and development expense for the years ended December 31, 2025, 2024 and 2023 is net of $34.4 million, $47.9 million, and $46.4 million of stock-based compensation expense, respectively, and $10.6 million, $10.3 million, and $10.9 million of depreciation expense, respectively. For the year ended December 31, 2024, the Company recorded a non-cash adjustment of $4.8 million related to an option expiration which was recognized as a benefit to research and development expense.

(4) Acquired in-process research and development expense for the year ended December 31, 2025 relates to expense of $25.0 million related to the upfront cash payment to Sirius in the second quarter of 2025, as well as expense of $71.3 million related to the issuance of the Company’s common shares issued to Sirius as part of the Sirius Agreement in the second quarter of 2025, as described further in Note 8 of the notes to the consolidated financial statements included in this Annual Report on Form 10-K.

(5) General and administrative expense for the years ended December 31, 2025, 2024 and 2023 is net of $38.1 million, $38.6 million, and $34.7 million of stock-based compensation expense, respectively, and $8.8 million, $8.9 million, and $8.9 million of depreciation expense, respectively.

(6) Other segment items include interest income, net, the change in fair value of corporate equity securities and income tax expense.

CRISPR Therapeutics AG 10-K