| 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 September 30, |
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Nine Months Ended September 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 |
$ |
582 |
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$ |
— |
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$ |
984 |
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$ |
— |
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| Contract |
6,285 |
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|
5,140 |
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|
22,353 |
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|
19,520 |
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Total OmniAb business revenue |
6,867 |
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|
5,140 |
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23,337 |
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|
19,520 |
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| Ligand core business revenue |
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| Royalties |
19,255 |
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|
15,648 |
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50,507 |
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$ |
31,376 |
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| Captisol - Core |
3,582 |
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5,374 |
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13,133 |
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16,310 |
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| Captisol - COVID |
32,367 |
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29,719 |
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64,483 |
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112,565 |
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| Contract |
4,017 |
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8,954 |
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17,740 |
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24,889 |
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| Total Ligand core business revenue |
59,221 |
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59,695 |
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145,863 |
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185,140 |
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| Total revenue |
$ |
66,088 |
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$ |
64,835 |
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$ |
169,200 |
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$ |
204,660 |
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| Segment operating income (loss) |
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OmniAb business |
$ |
(11,721) |
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$ |
(9,177) |
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$ |
(26,905) |
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$ |
(21,587) |
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| Ligand core business |
22,022 |
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32,620 |
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|
49,050 |
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|
112,601 |
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| Total segment operating income |
10,301 |
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|
23,443 |
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22,145 |
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91,014 |
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| Unallocated corporate items |
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| Shared-based compensation |
6,462 |
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5,811 |
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17,255 |
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16,429 |
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| Other corporate expenses |
3,203 |
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1,926 |
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14,029 |
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8,424 |
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| Total unallocated corporate items |
9,665 |
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7,737 |
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31,284 |
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24,853 |
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| Income (loss) from operations |
$ |
636 |
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$ |
15,706 |
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$ |
(9,139) |
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$ |
66,161 |
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