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Segment Information | 12 Months Ended
--- | ---
Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Information | 15. Segment Information The Company operates and manages its business as one reportable segment and one operating segment, which is the business of discovering, developing and commercializing therapies derived from or incorporating genome-editing technology. The Company's chief operating decision maker, or CODM, is the chief executive officer. The CODM assesses performance for the segment and decides how to allocate resources based on consolidated net loss that is also reported on the consolidated statements of operations. The measure of segment assets is reported on the consolidated balance sheets as total consolidated assets. All material long-lived assets are located in the United States. Long-lived assets consist of property and equipment, net, and operating lease right-of-use assets. The CODM uses consolidated net loss to evaluate the Company's spend and monitor budget versus actual results. The monitoring of budgeted versus actual results is used in assessing performance of the segment and in establishing resource allocation across the organization. Factors used in determining the reportable segment include the nature of the Company's operating activities, the organizational and reporting structure and the type of information reviewed by the CODM to allocate resources and evaluate financial performance. The accounting policies of the segment are the same as those described in Note 2 of the notes to the consolidated financial statements included in this Annual Report on Form 10-K. The following table presents reportable segment profit and loss, including significant expense categories, attributable to the Company's reportable segment for the periods presented:
|  | Years Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Revenue 1: |  |  |  |  |  |  |  |  |
Collaboration revenue |  | $ | 35,000 |  |  | $ | 370,000 |  |  | $ | 436 |
Grant revenue |  |  | 2,314 |  |  |  | 1,206 |  |  |  | 762 |
Less 2: |  |  |  |  |  |  |  |  |
Research and development expense 3 |  |  | 262,427 |  |  |  | 330,121 |  |  |  | 397,067 |
General and administrative expense 4 |  |  | 25,453 |  |  |  | 32,589 |  |  |  | 45,012 |
Collaboration expense, net |  |  | 110,250 |  |  |  | 130,250 |  |  |  | 110,250 |
Stock-based compensation expense |  |  | 86,567 |  |  |  | 81,028 |  |  |  | 97,947 |
Depreciation expense |  |  | 19,183 |  |  |  | 19,756 |  |  |  | 24,083 |
Other income, net 5 |  |  | (103,901 | ) |  |  | (71,816 | ) |  |  | (22,661 | )
Provision (benefit) for income taxes |  |  | 3,587 |  |  |  | 2,888 |  |  |  | (325 | )
Segment net income |  |  | (366,252 | ) |  |  | (153,610 | ) |  |  | (650,175 | )
Reconciliation of profit or loss: |  |  |  |  |  |  |  |  |
Adjustments or reconciling items |  |  | — |  |  |  | — |  |  |  | — |
Consolidated net loss |  |  | (366,252 | ) |  |  | (153,610 | ) |  |  | (650,175 | )
(1) Collaboration revenue for the years ended December 31, 2024, 2023 and 2022 is related to our license agreements and collaborations with Vertex, as further described in Note 8 of the notes to the consolidated financial statements included in this Annual Report on Form 10-K. Collaboration revenue is attributed to the CRISPR Therapeutics AG entity, which is domiciled in Switzerland. (2) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. (3) Research and development expense for the years ended December 31, 2024, 2023 and 2022 is net of $47.9 million, $46.4 million, and $54.0 million of stock-based compensation expense, respectively, and $10.3 million, $10.9 million, and $10.6 million of depreciation expense, respectively. For the year ended December 31, 2024, the Company recorded a non-cash adjustment of $4.8 million related to an option expiration which was recognized as a benefit to research and development expense. (4) General and administrative expense for the years ended December 31, 2024, 2023 and 2022 is net of $38.6 million, $34.7 million, and $44.0 million of stock-based compensation expense, respectively, and $8.9 million, $8.9 million, and $13.5 million of depreciation expense, respectively. (5) Other income, net, consists primarily of interest income on investments, as further described in Note 3 of the notes to the consolidated financial statements included in this Annual Report on Form 10-K. For the years ended December 31, 2024, 2023 and 2022, the Company recognized interest income of $104.3 million, $76.4 million, and $23.3 million, respectively.

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- Definition The entire disclosure for reporting segments including data and tables. 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