v3.25.1
Product Revenue, Accounts Receivable and Reserves for Product Sales
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Product Revenue, Accounts Receivable and Reserves for Product Sales Product Revenue, Accounts Receivable and Reserves for Product Sales
The Company’s product revenue, net of sales discounts and allowances totaled $88.2 million and $45.3 million for the quarters ended March 31, 2025 and March 31, 2024 respectively.
The Company’s accounts receivable, net balance relating to VYJUVEK sales was $103.3 million as of March 31, 2025 and $104.7 million as of December 31, 2024. Accounts receivable, net from the Company’s customers who individually accounted for 10% or more of accounts receivable, net consisted of the following:
Percent of Accounts Receivable, Net
Three Months Ended March 31,
20252024
Customer A
82 %100 %
All other customers represent less than 10% of outstanding in the applicable period.
The following table summarizes changes in allowances and discounts for the three months ended March 31, 2025:
(in thousands)RebatesPrompt PayOther AccrualsTotal
Balance as of December 31, 2024
$38,223 $2,570 $326 $41,119 
Provisions15,375 2,626 98 18,099 
Payments/Credits(4,240)(2,592)(105)(6,937)
Balance as of March 31, 2025
$49,358 $2,604 $319 $52,281 
Rebates are included in accrued rebates and other long-term liabilities on the condensed consolidated balance sheets. Other long-term liabilities are comprised of $2.0 million of long-term accrued rebates. Prompt pay is recorded as an allowance against accounts receivable, net on the condensed consolidated balance sheets. Other accruals are included in accrued expenses and other current liabilities on the condensed consolidated balance sheets. Provisions for rebates, prompt pay and other accruals are recorded as a reduction to product revenue, net on the condensed consolidated statements of operations and comprehensive income (loss).