SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2025

The Company manages its operations as one operating segment, focused on discovering, developing and commercializing potential best-in-class medicines for serious and rare diseases. The Company’s CODM is its Chief Executive Officer. The CODM reviews and evaluates consolidated net loss for purposes of assessing performance, making operating decisions, allocating resources, and planning and forecasting for future periods. Operating expenses are used to monitor budget versus actual results. As the Company’s operations comprise of a single reporting segment, the segment assets are reflected on the accompanying consolidated balance sheet as “total assets.” All tangible assets are physically located within the United States. Segment asset information is not used by the CODM to allocate resources.

Significant segment expenses, as provided to the CODM, are presented below:


	Year Ended December 31,
		2025		2024		2023
		(in thousands)
Segment research and development expense (a)		$	317,216	$	215,909	$	143,545
Segment selling, general and administrative expense (a)		72,265		41,278		44,047
Share-based compensation expense (see Note 12)		44,303		42,150		67,172
Total operating expenses		433,784		299,337		254,764
License revenue		(70,000)		—		—
Other items (b)		(21,183)		(29,388)		(17,030)
Consolidated net loss		$	342,601	$	269,949	$	237,734

(a) Share-based payment expense of $21,514, $22,345, and $16,220 related to research and development and $22,789, $19,805, and $50,952 related to selling, general and administrative have been excluded for the years ended December 31, 2025, 2024, and 2023, respectively, and included within share-based compensation expense.

(b) Other items consist primarily of collaboration revenue, interest income, interest expense and depreciation 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

Viridian Therapeutics, Inc.\DE 10-K