v3.25.2
Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information

15. Segment Information

The Company reports segment information using the management approach and views its operations and manages its business as a single operating segment. The Company’s Chief Operating Decision Maker (“CODM”), who is the Chief Executive Officer, allocates resources and evaluates the performance of the operating segment based on historical and projected product sales, segment operating expenses, and condensed consolidated net loss, as reflected in the accompanying condensed consolidated statements of operations and comprehensive loss, which is the segment measure of loss.

The segment reports that are provided to the CODM are tracked against the Company’s internally budgeted expenses. The segment operating expense categories consist primarily of the Company’s functional departments: Clinical, Development, Medical Affairs, Sales and Marketing, and General and Administrative. The CODM does not review assets when evaluating the operating segment’s performance; therefore, this information is not presented.

Segment reporting for the three and six months ended June 30, 2025 and 2024 (in thousands):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Product revenue, net

 

$

12,800

 

 

$

—

 

 

$

20,563

 

 

$

—

 

Revenue under collaboration agreements

 

 

2,594

 

 

 

500

 

 

 

2,804

 

 

 

500

 

Revenue under supply agreements

 

 

323

 

 

 

—

 

 

 

323

 

 

 

—

 

Total revenue

 

 

15,717

 

 

 

500

 

 

 

23,690

 

 

 

500

 

Segment operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of goods sold

 

 

4,984

 

 

 

—

 

 

 

6,078

 

 

 

—

 

Clinical

 

 

1,250

 

 

 

1,226

 

 

 

2,454

 

 

 

4,042

 

Development

 

 

2,151

 

 

 

2,591

 

 

 

3,252

 

 

 

4,099

 

Medical affairs

 

 

1,073

 

 

 

421

 

 

 

2,018

 

 

 

754

 

Sales and marketing

 

 

40,925

 

 

 

2,694

 

 

 

67,682

 

 

 

4,145

 

General and administrative

 

 

7,118

 

 

 

5,505

 

 

 

15,837

 

 

 

9,195

 

Stock-based compensation

 

 

5,371

 

 

 

3,365

 

 

 

10,669

 

 

 

6,680

 

Other

 

 

459

 

 

 

38

 

 

 

491

 

 

 

117

 

Total segment operating expenses

 

 

63,331

 

 

 

15,840

 

 

 

108,481

 

 

 

29,032

 

Loss from operations

 

 

(47,614

)

 

 

(15,340

)

 

 

(84,791

)

 

 

(28,532

)

Other income, net

 

 

2,731

 

 

 

2,824

 

 

 

5,968

 

 

 

5,724

 

Net loss

 

$

(44,883

)

 

$

(12,516

)

 

$

(78,823

)

 

$

(22,808

)