Segment, Customer and Geographic Information

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Segment, Customer and Geographic Information

Note 12. Segment, Customer and Geographic Information

The Company manages its business activities on a consolidated basis and operates in one reportable segment. The Company’s Chief Executive Officer is the Chief Operating Decision Maker (“CODM”). The CODM makes decisions on resource allocation, assesses performance of the business, and monitors budget versus actual results using loss from operations.

Significant expenses within loss from operations include cost of product revenue, research and development, and selling, general and administrative expenses, which are each separately presented on the Company’s condensed consolidated statements of operations. The measure of segment assets is the Company’s total assets which is reported on the Company’s condensed consolidated balance sheets.

The Company’s operations outside of the U.S. include a wholly-owned subsidiary headquartered in Europe. The Company’s operations in the U.S. are responsible for the R&D and global and domestic commercialization of the INTERCEPT Blood System, while operations in Europe are responsible for the commercialization efforts of the platelet and plasma systems in Europe, the Commonwealth of Independent States and the Middle East. Product revenues are attributed to each region based on the location of the customer, and in the case of non-product revenues, on the location of the collaboration partner.

The Company had the following significant customers that accounted for more than 10% of the Company’s total product revenue, during the three and six months ended June 30, 2025 and 2024:

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2025	2024	2025	2024
American Red Cross	33%	36%	36%	36%
OneBlood	11%	*	*	*
Établissement Français du Sang	10%	11%	10%	13%
* Represents an amount less than 10% of product revenue.