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Segments
 12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Segments Segments
Through March 31, 2019, the Company was a single operating segment. In April 2019, the Company initiated efforts to better deploy resources, realize inherent synergies, and position the Company for growth with a core focus on healthcare and initiated plans to achieve this through various corporate activities, ultimately resulting in the closing of the Transactions in January 2020 (Note 3). Beginning in the second quarter of 2019, the Company's CODM assessed the operating performance of and allocated resources for several operating segments using Segment Adjusted EBITDA. Management believes this financial metric is a key indicator of operating results since it excludes noncash revenues and expenses that are not reflective of the underlying business performance of an individual enterprise. The Company defines Segment Adjusted EBITDA as net loss before (i) interest expense, (ii) income tax expense or benefit, (iii) depreciation and amortization, (iv) stock-based compensation expense, (v) loss on impairment of goodwill and other long-lived assets, (vi) equity in net loss of affiliates, and (vii) recognition of previously deferred revenue associated with upfront and milestone payments as well as cash outflows from capital expenditures and investments in affiliates.
Because the Company uses Segment Adjusted EBITDA as its primary measure of segment performance, it has included this measure in its discussion of segment operating results. The Company has also disclosed revenues from external customers and intersegment revenues for each reportable segment. Corporate expenses are not allocated to the segments and are managed at a consolidated level. The CODM does not use total assets by segment to evaluate segment performance or allocate resources, and accordingly, these amounts are not required to be disclosed. The Company's CODM now regularly reviews disaggregated financial information for each of the Company's operating segments. The Company's segment presentation has been recast to retrospectively reflect the change from one reportable segment to the newly identified reportable segments, including goodwill and also excludes consideration of all of the businesses included in the Transactions (Note 3).
For the year ended December 31, 2019, the Company's reportable segments are (i) PGEN Therapeutics, (ii) ActoBio, (iii) MBP Titan, and (iv) Trans Ova. These identified reportable segments met the quantitative thresholds for the year ended December 31, 2019, to be reported separately. See Note 1 for a description of each of these reportable segments. The All Other category as reported below reflects Precigen's other operating segments that do not meet the quantitative thresholds to report separately. The Company has also recast 2018 and 2017 segment information on the same basis as the 2019 presentation.
Information by reportable segment was as follows:
 
PGEN Therapeutics
 
ActoBio
 
MBP Titan
 
Trans Ova
 
All Other
 
Total
Goodwill
 
 
 
 
 
 
 
 
 
 
 
Balances at December 31, 2017
$
—

 
$
—

 
$
—

 
$
46,236

 
$
47,515

 
$
93,751

Reallocations from changes to reporting units
15,232

 
1,788

 
—

 
—

 
(17,020
)
 
—

Foreign currency translation adjustments
—

 
—

 
—

 
—

 
(124
)
 
(124
)
Balances at December 31, 2018
15,232

 
1,788

 
—

 
46,236

 
30,371

 
93,627

Reallocations from changes to reporting units
—

 
—

 
9,635

 
—

 
(9,635
)
 
—

Impairments
—

 
—

 
—

 
(29,642
)
 
(178
)
 
(29,820
)
Foreign currency translation adjustments
—

 
(53
)
 
—

 
—

 
—

 
(53
)
Balances at December 31, 2019
$
15,232

 
$
1,735

 
$
9,635

 
$
16,594

 
$
20,558

 
$
63,754

 
Year Ended December 31, 2019
 
PGEN Therapeutics
 
ActoBio
 
MBP Titan
 
Trans Ova
 
All Other
 
Total
Revenues from external customers
$
2,227

 
$
(364
)
 
$
3,813

 
$
68,672

 
$
16,227

 
$
90,575

Intersegment revenues
11,341

 
498

 
96

 
1,361

 
1,270

 
14,566

Total segment revenues
$
13,568

 
$
134

 
$
3,909

 
$
70,033

 
$
17,497

 
$
105,141

 
 
 
 
 
 
 
 
 
 
 
 
Segment Adjusted EBITDA
$
(30,166
)
 
$
(13,662
)
 
$
(36,718
)
 
$
(6,337
)
 
$
(5,952
)
 
$
(92,835
)
 
Year Ended December 31, 2018
 
PGEN Therapeutics
 
ActoBio
 
MBP Titan
 
Trans Ova
 
All Other
 
Total
Revenues from external customers
$
29,021

 
$
6,684

 
$
9,927

 
$
75,178

 
$
30,213

 
$
151,023

Intersegment revenues
617

 
840

 
9

 
558

 
255

 
2,279

Total segment revenues
$
29,638

 
$
7,524

 
$
9,936

 
$
75,736

 
$
30,468

 
$
153,302

 
 
 
 
 
 
 
 
 
 
 
 
Segment Adjusted EBITDA
$
(32,841
)
 
$
(12,797
)
 
$
(29,403
)
 
$
(5,730
)
 
$
(10,708
)
 
$
(91,479
)
 
Year Ended December 31, 2017
 
PGEN Therapeutics
 
ActoBio
 
MBP Titan
 
Trans Ova
 
All Other
 
Total
Revenues from external customers
$
53,184

 
$
12,929

 
$
14,336

 
$
79,783

 
$
59,174

 
$
219,406

Intersegment revenues
—

 
1,183

 
—

 
243

 
630

 
2,056

Total segment revenues
$
53,184

 
$
14,112

 
$
14,336

 
$
80,026

 
$
59,804

 
$
221,462

 
 
 
 
 
 
 
 
 
 
 
 
Segment Adjusted EBITDA
$
(5,655
)
 
$
(2,656
)
 
$
(32,251
)
 
$
1,020

 
$
(1,102
)
 
$
(40,644
)

The table below reconciles total segment revenues from reportable segments to total consolidated revenues:
 
Year Ended December 31,
 
2019
 
2018
 
2017
Total segment revenues from reportable segments
$
87,644

 
$
122,834

 
$
161,658

Other revenues, including from other operating segments
18,602

 
30,914

 
59,861

Elimination of intersegment revenues
(15,524
)
 
(2,570
)
 
(2,056
)
Total consolidated revenues
$
90,722

 
$
151,178

 
$
219,463

The table below reconciles Segment Adjusted EBITDA for reportable segments to consolidated net loss before income taxes:
 
Year Ended December 31,
 
2019
 
2018
 
2017
Segment Adjusted EBITDA for reportable segments
$
(86,883
)
 
$
(80,771
)
 
$
(39,542
)
All Other Segment Adjusted EBITDA
(5,952
)
 
(10,708
)
 
(1,102
)
Remove cash paid for capital expenditures and investments in affiliates
15,339

 
19,906

 
31,701

Add recognition of previously deferred revenue associated with upfront and milestone payments
17,843

 
39,446

 
68,539

Other expenses:
 
 
 
 
 
Interest expense
(17,666
)
 
(8,473
)
 
(584
)
Depreciation and amortization
(19,789
)
 
(24,105
)
 
(21,609
)
Impairment loss
(30,810
)
 
—

 
(13,823
)
Reacquisition of in-process research and development
—

 
(236,748
)
 
—

Stock-based compensation expense
(16,443
)
 
(32,424
)
 
(36,893
)
Equity in net loss of affiliates
(2,416
)
 
(8,986
)
 
(12,436
)
Other
67

 
—

 
—

Unallocated corporate costs
(47,577
)
 
(84,536
)
 
(53,197
)
Eliminations
(14,400
)
 
(2,343
)
 
579

Consolidated net loss from continuing operations before income taxes
$
(208,687
)
 
$
(429,742
)
 
$
(78,367
)

As of December 31, 2019 and 2018, the Company had $6,724 and $10,011, respectively, of long-lived assets in foreign countries from continuing operations. The Company recognized revenues from continuing operations derived in foreign countries totaling $1,401, $6,255, and $13,771 for the years ended December 31, 2019, 2018 and 2017, respectively.