v3.26.1
Segment Reporting
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company operates in one operating segment and therefore has only one reportable segment. The Company derives revenue primarily from sales of its commercial products in the U.S.

The Company's chief operating decision maker (CODM) is the chief executive officer. The Company manages the business activities on a consolidated basis. The CODM assesses performance of the Company, decides how to allocate resources based on net loss, which is reported in the condensed consolidated statement of loss as net loss, and allocates resources on a consolidated basis. The CODM uses net loss to decide whether to reinvest profits into the Company's current products or into other research and development initiatives for the Company's product candidates. Net loss is also used to monitor budget versus actual results.

The measure of the reportable segment assets is reported on the balance sheet as total assets.
The following table shows the segment revenue, significant segment expenses and net loss (dollars in thousands):
Three Months Ended
March 31,
20262025
(unaudited)
Total revenues
$207,705 $149,824 
Less: Significant segment expenses:
Cost of revenues23,391 15,763 
Selling expenses
66,278 42,614 
Marketing expenses
20,697 20,664 
General and administrative expenses38,198 26,666 
Research and development expenses


External development program expenses:
ONAPGO
261 472 
SPN-8201,849 4,763 
SPN-817(b)
16,557 3,571 
Qelbree2,364 4,413 
ZURZUVAE
82 — 
Early-stage programs and other expenses
6,565 3,213 
Total external development program expenses
27,678 16,432 
Internal employee-related expenses
11,760 10,495 
Total research and development expenses
39,438 26,927 
Other segment items(a)
21,996 29,017 
Net loss$(2,293)$(11,827)
(a) Other segment items include amortization of intangible assets, contingent consideration loss, net interest and other income, and income tax expense (benefit) whose amounts are disclosed in the condensed consolidated statement of loss.
(b) Includes amount related to Biscayne amendment. Refer to Note 17, Commitments and Contingencies.