| Schedule of Reconciliation of Revenue from Segments to Consolidated |
The following table provides a reconciliation of revenue and operating income by reportable segment to consolidated results and was derived from each segment’s internal financial information as used for corporate management purposes (in thousands):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2022 |
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2021 |
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2022 |
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2021 |
OmniAb business revenue |
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| Royalties |
$ |
139 |
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|
$ |
— |
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$ |
402 |
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$ |
— |
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| Contract |
7,153 |
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|
5,821 |
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|
16,068 |
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|
14,380 |
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Total OmniAb business revenue |
7,292 |
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|
5,821 |
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16,470 |
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|
14,380 |
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| Ligand core business revenue |
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| Royalties |
17,820 |
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|
8,616 |
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31,252 |
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$ |
15,728 |
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| Captisol - Core |
3,325 |
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9,682 |
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9,551 |
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10,935 |
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| Captisol - COVID |
26,220 |
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52,827 |
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32,116 |
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82,846 |
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| Contract |
2,762 |
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7,729 |
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13,723 |
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|
15,936 |
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| Total Ligand core business revenue |
50,127 |
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78,854 |
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86,642 |
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125,445 |
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| Total revenue |
$ |
57,419 |
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$ |
84,675 |
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$ |
103,112 |
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$ |
139,825 |
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| Segment operating income (loss) |
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OmniAb business |
$ |
(8,998) |
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$ |
(7,806) |
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$ |
(15,187) |
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$ |
(12,410) |
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| Ligand core business |
17,039 |
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|
61,834 |
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|
27,030 |
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|
80,280 |
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| Total segment operating income |
8,041 |
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|
54,028 |
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11,843 |
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67,870 |
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| Unallocated corporate items |
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| Shared-based compensation |
5,136 |
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5,748 |
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10,793 |
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10,618 |
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| Other corporate expenses |
3,374 |
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2,541 |
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10,825 |
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|
6,798 |
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| Total unallocated corporate items |
8,510 |
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8,289 |
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21,618 |
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17,416 |
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| Income (loss) from operations |
$ |
(469) |
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$ |
45,739 |
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$ |
(9,775) |
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$ |
50,454 |
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