Segment Information

12 Months Ended

Dec. 31, 2025

16. SEGMENT INFORMATION

The Company operates in one operating segment, and therefore one reportable segment, focused on the discovery and development of therapeutic proteins and antibodies that modulate the activity of GPCRs. The accounting policies of the segment are the same as those described in the summary of significant accounting policies.

The determination of a single segment is consistent with the consolidated financial information regularly reviewed by the Chief Executive Officer, who serves as the CODM, in evaluating financial performance and allocating resources on a consolidated basis. The CODM primarily evaluates the Company’s performance based on net loss and significant expense categories.

No segment asset information is presented because the CODM focuses on cash and expense impact; segment assets are monitored at the same level as the Consolidated Balance Sheet.

The following table presents the segment net loss and significant segment expenses for the years ended December 31, 2025 and 2024:


	Year Ended December 31,
	2025		2024
Employee-related expenses:
Research and development employee-related expenses	$	12,961	$	11,135
General and administrative employee-related expenses		5,548		5,553

External research and development expenses:
Research and preclinical expenses		7,001		8,477
Clinical and development expenses		23,798		15,380
Chemistry, manufacturing, and control expenses		10,052		3,570
Non-clinical science expenses		3,667		—

Non-employee-related general and administrative expenses		8,985		8,733
Other segment items1		2,139		5,134
Net loss	$	74,151	$	57,982

1 Other segment expenses include expenses not captured in the primary employee-related, research and development, or general and administrative categories, such as stock-based compensation, depreciation and amortization, changes in the fair value of SAFE liabilities, income tax expense, interest income and interest expense.

- 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

Tectonic Therapeutic, Inc. 10-K