X4 Pharmaceuticals, Inc

20. Segment Information

The Company’s Executive Chairman, who is its CODM, manages the Company’s operations as a single operating segment, which comprises its single reportable segment, for the purposes of assessing performance and making operating decisions. The Company’s focus is on the research, development and commercialization of novel therapeutics for the treatment of rare hematology diseases. The Company’s research, development and commercialization efforts are focused on its lead molecule, mavorixafor.

The measure of profit for the segment is net loss and consisted of the following for the years ended December 31, 2025, 2024, and 2023:

(a) For the year ended December 31, 2025, the Company recognized $6.5 million of revenue from its U.S. customer and $28.6 million of revenue from its customer in the United Kingdom. For the year ended December 31, 2024, the Company recognized $2.6 million of revenue from its U.S. customer and it hadno non-U.S. revenue. The Company recognizedno revenue for the year ended December 31, 2023.

(b) Other segment items primarily include cost of revenue, non-compensation departmental costs within sales, general and administrative departments, certain unallocated external costs within research and development, stock-based compensation expense, SARs compensation expense, severance expense, other income (expense), and provision for income taxes.

The CODM only receives and reviews information regarding segment assets at the consolidated level. As of December 31, 2025, the Company’s single operating segment had long-lived assets, including property and equipment and right-of-use assets, of $1.6 million, all of which were located in the U.S. As of December 31, 2024, the operating segment’s long-lived assets were $4.8 million, of which $3.2 million and $1.6 million were located in the U.S. and Austria, respectively.