Segment Information

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Segment Information

18. 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 $120,283 and $132,682 as of June 30, 2025, and December 31, 2024, respectively.

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

	Three Months Ended June 30, 2025
	Cell Therapy			BioBanking		Degenerative Disease			Other			Total
Net revenues	$	759			1,275		3,702			—			5,736
Cost of revenues (excluding amortization of acquired intangible assets)		—			220		5,022			—			5,242
Direct expenses		2,927			387		1,854			10,818			15,986
Segment contribution	$	(2,168	)	$	668	$	(3,174	)	$	(10,818	)	$	(15,492	)
Indirect expenses										372	(a)		372
Loss from operations													(15,864	)
(a) Components of other
Amortization										372
Total other									$	372

	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

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

	Six Months Ended June 30, 2025
	Cell Therapy			BioBanking		Degenerative Disease			Other			Total
Net revenues	$	1,023			2,683		13,456			—			17,162
Cost of revenues (excluding amortization of acquired intangible assets)		—			429		8,367			—			8,796
Direct expenses		6,184			756		6,601			20,435			33,976
Segment contribution	$	(5,161	)	$	1,498	$	(1,512	)	$	(20,435	)	$	(25,610	)
Indirect expenses										740	(a)		740
Loss from operations													(26,350	)
(a) Components of other
Amortization										740
Total other									$	740

	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