Product Revenue, Accounts Receivable and Reserves for Product Sales |
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| 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 $96.0 million and $70.3 million for the three months ended June 30, 2025 and June 30, 2024, respectively, and $184.2 million and $115.5 million for the six months ended June 30, 2025 and June 30, 2024 respectively. The Company’s accounts receivable, net balance relating to VYJUVEK sales was $111.4 million as of June 30, 2025 and $104.7 million as of December 31, 2024. As of June 30, 2025 and December 31, 2024, approximately 78% and 97%, respectively, of the Company’s accounts receivable, net was outstanding from a single customer. All other single customers represent less than 10% of outstanding in the applicable period. The following table summarizes changes in allowances and discounts for the six months ended June 30, 2025:
Rebates are included in accrued rebates and other long-term liabilities on the condensed consolidated balance sheets. Other long-term liabilities are comprised of $2.8 million and $1.4 million of long-term accrued rebates as of June 30, 2025 and December 31, 2024, respectively. 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.
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