v3.26.1
Product Revenue, Accounts Receivable and Reserves for Product Sales
 3 Months Ended
Mar. 31, 2026
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 $116.4 million and $88.2 million for the three months ended March 31, 2026 and March 31, 2025, respectively. Product revenue by significant geographic region is as follows:
Three Months Ended March 31,
20262025
United States
$87,489 $88,183 
Europe
20,677 — 
Japan
8,191 — 
Total product revenue, net
$116,357 $88,183 
The Company’s accounts receivable, net balance relating to VYJUVEK sales was $127.0 million as of March 31, 2026 and $127.4 million as of December 31, 2025. 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
March 31,
2026		December 31,
2025
Customer A
62 %66 %
Customer B
13 %14 %
All other single customers represent less than 10% of outstanding accounts receivable, net in the applicable period.
The following table summarizes changes in allowances and discounts for the three months ended March 31, 2026:
(in thousands)RebatesPrompt PayOther AccrualsTotal
Balance as of December 31, 2025
$61,905 $5,834 $378 $68,117 
Provisions22,335 3,349 60 25,744 
Payments/Credits(8,399)(3,845)(278)(12,522)
Balance as of March 31, 2026
$75,841 $5,338 $160 $81,339 
Rebates are included in accrued rebates and other long-term liabilities on the condensed consolidated balance sheets. Other long-term liabilities are comprised of $5.1 million and $3.7 million of long-term accrued rebates as of March 31, 2026 and December 31, 2025, respectively. Prompt pay discount 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 discounts and other accruals are recorded reductions to product revenue, net on the condensed consolidated statements of operations and comprehensive income.