| Schedule of Disaggregation of Product Revenue by Major Source |
The table reflects product revenue by major source for the following periods (in thousands):
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March31, |
|
|
|
2024 |
|
|
2023 |
|
Products: |
|
|
|
|
|
|
EMPAVELI |
|
$ |
25,610 |
|
|
$ |
20,440 |
|
SYFOVRE |
|
|
137,465 |
|
|
|
18,360 |
|
Total Product revenue, net |
|
$ |
163,075 |
|
|
$ |
38,800 |
|
|
| Summary of Product Revenue Allowance and Reserve Categories |
The following table summarizes activity in each of the product revenue allowance and reserve categories for the three months ended March 31, 2024 and 2023 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chargebacks, Discounts, and Fees |
|
|
Government and other rebates |
|
|
Returns |
|
|
Total |
|
Ending balance at December 31, 2023 |
|
$ |
5,674 |
|
|
$ |
8,898 |
|
|
$ |
2,053 |
|
|
|
16,625 |
|
Provision related to sales in the current year |
|
|
9,575 |
|
|
|
13,125 |
|
|
|
1,355 |
|
|
|
24,055 |
|
Adjustments related to prior period sales |
|
|
146 |
|
|
|
(19 |
) |
|
|
(96 |
) |
|
|
31 |
|
Credits and payments made |
|
|
(9,724 |
) |
|
|
(9,906 |
) |
|
|
(1,859 |
) |
|
|
(21,489 |
) |
Ending balance at March 31, 2024 |
|
$ |
5,671 |
|
|
$ |
12,098 |
|
|
$ |
1,453 |
|
|
$ |
19,222 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chargebacks, Discounts, and Fees |
|
|
Government and other rebates |
|
|
Returns |
|
|
Total |
|
Ending balance at December 31, 2022 |
|
$ |
164 |
|
|
$ |
1,936 |
|
|
$ |
251 |
|
|
|
2,351 |
|
Provision related to sales in the current year |
|
|
1,466 |
|
|
|
2,566 |
|
|
651 |
|
|
|
4,683 |
|
Adjustments related to prior period sales |
|
|
— |
|
|
|
(2 |
) |
|
|
(249 |
) |
|
|
(251 |
) |
Credits and payments made |
|
|
(184 |
) |
|
|
(1,639 |
) |
|
|
— |
|
|
|
(1,823 |
) |
Ending balance at March 31, 2023 |
|
$ |
1,446 |
|
|
$ |
2,861 |
|
|
$ |
653 |
|
|
$ |
4,960 |
|
|
| Schedule of Customer Accounted for 10% of More of Gross Product Revenues and Accounts Receivable |
Significant customers - Gross product revenues and product sales receivable from the Company's customers who individually accounted for 10% of more of total gross product revenues and/or 10% or more of total product sales receivable consisted of the following:
|
|
|
|
|
|
|
Percent of Total Gross Product Revenues |
|
|
Three Months Ended March31, |
|
|
2024 |
|
2023 |
Customer A |
|
15% |
|
52% |
Customer C |
|
19% |
|
9% |
Customer D |
|
59% |
|
33% |
|
|
|
|
|
|
|
Percent of Product Sales Receivable |
|
|
As of March 31, |
|
|
2024 |
|
2023 |
Customer A |
|
3% |
|
25% |
Customer C |
|
21% |
|
15% |
Customer D |
|
67% |
|
52% |
|