Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Revenue and Cost of Revenue and Goods Sold Generated From Product Sales, Services and Royalties

The Company’s net revenue and cost of revenue and goods sold as shown on the consolidated statement of operations is comprised of revenue generated from product sales, services and royalties as shown below (in thousands):


	Year Ended December 31,
	2023		2022		2021
Net revenue:
Product revenue (1)	$	126,054	$	81,073	$	39,435
Services (2)		929		3,098		36,007
Royalties (3)		71,979		15,599		—
Total net revenue	$	198,962	$	99,770	$	75,442

_________________________

(1)

Amounts represent the net revenue from Afrezza and V-Go sales to wholesalers and specialty pharmacies and Tyvaso DPI to UT.

(2)

Amounts represent revenue generated from the Company’s collaboration arrangements, including Next-Gen R&D Services (as defined in Note 11) for UT as well as arrangements with other collaboration partners. See Note 11 – Collaboration, Licensing and Other Arrangements.

(3)

Amounts represent royalties on UT’s net revenue from Tyvaso DPI sales.


	Year Ended December 31,
	2023		2022		2021
Cost of goods sold and cost of revenue:
Product revenue	$	61,989	$	55,071	$	16,833
Services		782		2,426		22,024
Total cost of goods sold and cost of revenue	$	62,771	$	57,497	$	38,857