NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONTINUED 4. OPERATING SEGMENTS Identification of reportable operating segments The segment reporting reflects the way information is reported internally to the chief operating decision maker. The Chief Executive Officer has been identified as the chief operating decision maker. The Board assesses the financial performance and position of the group and makes strategic decisions. The Group has two reportable operating segments, commercial products and research and development. Reportable segment Principal activities Commercial products Milestone and royalty revenue from licence of intellectual property. Research & development Development of pharmaceutical products for the treatment of neurodevelopmental disorders. Commercial products Research & Development Corporate Total Dec–25 $’000 Dec–24 $’000 Dec–25 $’000 Dec–24 $’000 Dec–25 $’000 Dec–24 $’000 Dec–25 $’000 Dec–24 $’000 Revenue 64,634 213,243 – – – – 64,634 213,243 Research and development costs – – (36,392) (32,970) – – (36,392) (32,970) Finance income – – – – 12,159 11,014 12,159 11,014 Other income – – – – 15 2 15 2 Other expenses – – – – (6,218) (4,701) (6,218) (4,701) Net foreign currency gain/(loss) – – – – 8,028 (7,235) 8,028 (7,235) (Loss)/gain on financial derivatives (3,297) 3,587 (3,297) 3,587 Profit before income tax 64,634 213,243 (36,392) (32,970) 10,687 2,667 38,929 182,940 Income tax expense – – – – (8,493) (40,897) (8,493) (40,897) Profit after income tax 64,634 213,243 (36,392) (32,970) 2,194 (38,230) 30,436 142,043 Other comprehensive income – – – – (26,339) 24,198 (26,339) 24,198 Total comprehensive income 64,634 213,243 (36,392) (32,970) (24,145) (14,032) 4,097 166,241 All revenue from licences of intellectual property is from Acadia Pharmaceuticals Inc. (Acadia) and is from the United States. Assets and liabilities are not allocated to segments and are therefore not reported. Neuren Pharmaceuticals Limited Annual Report 2025 41
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