Adaptimmune Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting

Segment Reporting

9 Months Ended

Sep. 30, 2024

Note 15 – Segment reporting

The Company has one reportable segment relating to the research, development and commercialization of its novel cell therapies. The segment derives its current revenues from research and development collaborations.

The Company’s Chief Operating Decision Maker (the “CODM”), its Chief Executive Officer and the senior leadership team (comprising the Executive Team members and three senior vice presidents), manages the Company’s operations on an integrated basis for the purposes of allocating resources. When evaluating the Company’s financial performance, the CODM regularly reviews total revenues, total expenses and expenses by function and the CODM makes decisions using this information on a global basis.

The table below is a summary of the segment profit or loss, including significant segment expenses (in thousands):


	Three months ended				Nine months ended
	September 30,				September 30,
	2024		2023		2024		2023
Revenue	$	40,901	$	7,319	$	174,810	$	60,050
Less:
Research		(2,954)		(4,197)		(10,392)		(9,570)
CMC and Quality		(15,073)		(17,350)		(44,006)		(43,958)
Biomarkers		(1,196)		(980)		(6,482)		(3,432)
Development and Compliance		(11,279)		(13,128)		(38,765)		(32,165)
Infrastructure management and Facilities		(7,951)		(7,491)		(23,779)		(20,981)
Commercial		(4,404)		(550)		(10,849)		(1,976)
Support functions		(9,247)		(8,643)		(30,321)		(37,278)
Other segment expenses^(a)		(3,479)		(1,613)		(5,458)		(575)
Total operating expenses		(55,581)		(53,952)		(170,051)		(149,935)
Operating (loss)/profit		(14,680)		(46,633)		4,759		(89,885)

Interest income		2,096		2,149		4,817		4,368
Interest expense		(1,109)		—		(1,635)		—
Gain on bargain purchase		—		(106)		—		22,049
Other income (expense), net		(3,093)		(324)		(2,657)		(494)
Income tax expense		(831)		(687)		(1,883)		(1,992)
Segment and consolidated net (loss)/profit	$	(17,617)	$	(45,601)	$	3,401	$	(65,954)

^(a)Other segment expenses includes reimbursements receivable for research and development tax and expenditure credits, depreciation, amortization and share-based compensation expenses.

- 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.

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+ Details