| Revenue by Sales Channel |
Total revenue by sales channel was as follows for the periods indicated: | | | | | | | | | | | | | | | | | | | Year ended December 31, 2025 | | (In thousands) | Obagi Medical | | Milk
Makeup | | Total | | Revenue by Sales Channel | | | | | | | Direct sales | $ | 109,657 | | | $ | 107,717 | | | $ | 217,374 | | | Distributors | 48,083 | | | 2,727 | | | 50,810 | | | Net product sales | $ | 157,740 | | | $ | 110,444 | | | $ | 268,184 | | | Royalties | 3,887 | | | — | | | 3,887 | | | Net revenue | $ | 161,627 | | | $ | 110,444 | | | $ | 272,071 | |
| | | | | | | | | | | | | | | | | | | Year ended December 31, 2024 | | (In thousands) | Obagi Medical | | Milk
Makeup | | Total | | Revenue by Sales Channel | | | | | | | Direct sales | $ | 103,168 | | | $ | 120,362 | | | $ | 223,530 | | | Distributors | 41,630 | | | 4,209 | | | 45,839 | | | Net product sales | $ | 144,798 | | | $ | 124,571 | | | $ | 269,369 | | | Royalties | 4,468 | | | 31 | | | 4,499 | | | Net revenue | $ | 149,266 | | | $ | 124,602 | | | $ | 273,868 | |
| | | | | | | | | | | | | | | | | | | Year ended December 31, 2023 | | (In thousands) | Obagi Medical | | Milk
Makeup | | Total | | Revenue by Sales Channel | | | | | | | Direct sales | $ | 72,446 | | | $ | 97,222 | | | $ | 169,668 | | | Distributors | 40,203 | | | 3,245 | | | 43,448 | | | Net product sales | $ | 112,649 | | | $ | 100,467 | | | $ | 213,116 | | | Royalties | 5,002 | | | 20 | | | 5,022 | | | Net revenue | $ | 117,651 | | | $ | 100,487 | | | $ | 218,138 | |
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| Revenue by Geographic Region |
Total revenue by geographic region, based on the location of the end customer, was as follows for the periods indicated: | | | | | | | | | | | | | | | | | | | (In thousands) | Year ended December 31, 2025 | | Year ended December 31, 2024 | | Year ended December 31, 2023 | | Revenue by Geographic Region | | | | | | North America1 | $ | 211,972 | | | $ | 202,261 | | | $ | 154,357 | | | Rest of the World | 56,212 | | | 67,108 | | | 58,759 | | | Net product sales | $ | 268,184 | | | $ | 269,369 | | | $ | 213,116 | | | Royalties | 3,887 | | | 4,499 | | | 5,022 | | | Net revenue | $ | 272,071 | | | $ | 273,868 | | | $ | 218,138 | |
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