Segment Information

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Segment Information

14.Segment Information

The Company regularly reviews its segments and the approach used by management to evaluate performance and allocate resources. The Company manages its operations through an evaluation of three distinct business segments: Cell Therapy, Degenerative Disease, and BioBanking. The chief operating decision maker uses the revenues and earnings (losses) of the operating segments, among other factors, for performance evaluation and resource allocation among these segments.

The reportable segments were determined based on the distinct nature of the activities performed by each segment. Cell Therapy broadly refers to therapies the Company is researching and developing. Therapies being researched are unproven and in various phases of development. Degenerative Disease produces, sells and licenses products used in surgical and wound care markets. BioBanking collects stem cells from umbilical cords and placentas and provides storage of such cells on behalf of individuals for future use.

The Company manages its assets on a total company basis, not by operating segment. Therefore, the chief operating decision maker does not regularly review any asset information or related income statement effects by operating segment and, accordingly, asset information is not reported by operating segment. Total assets were $135,494 and $143,889 as of June 30, 2024 and December 31, 2023, respectively.

Financial information by segment for the three months ended June 30, 2024 and 2023 is as follows:

	Three Months Ended June 30, 2024
	Cell Therapy			BioBanking		Degenerative Disease		Other				Total
Net revenues	$	-		$	1,278	$	10,833	$	-			$	12,111
Cost of revenues (excluding amortization of acquired intangible assets)		-			537		1,586		-				2,123
Direct expenses		3,422			447		5,784		10,054				19,707
Segment contribution	$	(3,422	)	$	294	$	3,463	$	(10,054	)		$	(9,719	)
Indirect expenses									456		(a)		456
Loss from operations												$	(10,175	)
(a) Components of other
Amortization									456
Total other								$	456

	Three Months Ended June 30, 2023
	Cell Therapy			BioBanking		Degenerative Disease			Other				Total
Net revenues	$	-		$	1,278	$	1,660		$	-			$	2,938
Cost of revenues (excluding amortization of acquired intangible assets)		-			485		317			-				802
Direct expenses		8,456			86		1,889			11,252				21,683
Segment contribution	$	(8,456	)	$	707	$	(546	)	$	(11,252	)		$	(19,547	)
Indirect expenses										22,929		(b)		22,929
Loss from operations													$	(42,476	)
(b) Components of other
Change in fair value of contingent consideration liability										(85,407	)
Change in fair value of contingent stock consideration										(10	)
IPR&D impairment										107,800
Amortization										546
Total other									$	22,929

Financial information by segment for the six months ended June 30, 2024 and 2023 is as follows:

	Six Months Ended June 30, 2024
	Cell Therapy			BioBanking		Degenerative Disease		Other				Total
Net revenues	$	-		$	2,565	$	24,227	$	-			$	26,792
Cost of revenues (excluding amortization of acquired intangible assets)		-			714		3,049		-				3,763
Direct expenses		8,887			863		10,198		19,630				39,578
Segment contribution	$	(8,887	)	$	988	$	10,980	$	(19,630	)		$	(16,549	)
Indirect expenses									1,002		(a)		1,002
Loss from operations												$	(17,551	)
(a) Components of other
Amortization									1,002
Total other								$	1,002

	Six Months Ended June 30, 2023
	Cell Therapy			BioBanking		Degenerative Disease			Other				Total
Net revenues	$	-		$	2,635	$	4,238		$	-			$	6,873
Cost of revenues (excluding amortization of acquired intangible assets)		-			957		1,848			-				2,805
Direct expenses		48,618			430		4,898			22,407				76,353
Segment contribution	$	(48,618	)	$	1,248	$	(2,508	)	$	(22,407	)		$	(72,285	)
Indirect expenses										34,061		(b)		34,061
Loss from operations													$	(106,346	)
(b) Components of other
Change in fair value of contingent consideration liability										(104,339	)
Change in fair value of contingent stock consideration										(120	)
Goodwill impairment										29,633
IPR&D impairment										107,800
Amortization										1,087
Total other									$	34,061