Segment Information

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Segment Information

20. 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 Company’s chief operating decision maker is the Company’s Chief Executive Officer.

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 $114,239 and $132,682 as of September 30, 2025, and December 31, 2024, respectively.

Financial information by segment for the three months ending September 30, 2025 and 2024 is as follows:

	Three Months Ended September 30, 2025
	Cell Therapy			BioBanking		Degenerative Disease			Other			Total
Net revenues	$	1,592			1,448		2,244			—			5,284
Cost of revenues (excluding amortization of acquired intangible assets)		—			220		3,684			—			3,904
Direct expenses		4,079			365		1,358			8,102			13,904
Segment contribution	$	(2,487	)	$	863	$	(2,798	)	$	(8,102	)	$	(12,524	)
Indirect expenses										376	(a)		376
Loss from operations													(12,900	)
(a) Components of other
Amortization										376
Total other									$	376

	Three Months Ended September 30, 2024
	Cell Therapy			BioBanking		Degenerative Disease		Other			Total
Net revenues	$	—			1,292		8,004		—			9,296
Cost of revenues (excluding amortization of acquired intangible assets)		—			238		3,645		—			3,883
Direct expenses		3,496			353		4,187		8,529			16,565
Segment contribution	$	(3,496	)	$	701	$	172	$	(8,529	)	$	(11,152	)
Indirect expenses									375	(a)		375
Loss from operations												(11,527	)
(a) Components of other
Amortization									375
Total other								$	375

Financial information by segment for the nine months ended September 30, 2025 and 2024 is as follows:

	Nine Months Ended September 30, 2025
	Cell Therapy			BioBanking		Degenerative Disease			Other			Total
Net revenues	$	2,615			4,131		15,700			—			22,446
Cost of revenues (excluding amortization of acquired intangible assets)		—			649		12,051			—			12,700
Direct expenses		10,263			1,121		7,959			28,537			47,880
Segment contribution	$	(7,648	)	$	2,361	$	(4,310	)	$	(28,537	)	$	(38,134	)
Indirect expenses										1,116	(a)		1,116
Loss from operations													(39,250	)
(a) Components of other
Amortization										1,116
Total other									$	1,116

	Nine Months Ended September 30, 2024
	Cell Therapy			BioBanking		Degenerative Disease		Other			Total
Net revenues	$	—			3,857		32,231		—			36,088
Cost of revenues (excluding amortization of acquired intangible assets)		—			952		6,694		—			7,646
Direct expenses		12,383			1,216		14,385		28,159			56,143
Segment contribution	$	(12,383	)	$	1,689	$	11,152	$	(28,159	)	$	(27,701	)
Indirect expenses									1,377	(a)		1,377
Loss from operations												(29,078	)
(a) Components of other
Amortization									1,377
Total other								$	1,377