v3.26.1
Revenues (Tables)
 3 Months Ended
Apr. 03, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
Revenues consisted of the following (in thousands):
Three Months Ended March 31,
20262025
Product revenues:
Gross product revenues$795,354 $721,711 
Discounts and allowances(240,377)(208,428)
Net product revenues554,977 513,283 
Collaboration revenues:
License revenues56,948 42,480 
Collaboration services revenues(1,113)(316)
Collaboration revenues
55,835 42,164 
Total revenues$610,812 $555,447 
Net product revenues by product were as follows (in thousands):
Three Months Ended March 31,
20262025
CABOMETYX$552,773 $510,872 
COMETRIQ 2,204 2,411 
Net product revenues$554,977 $513,283 
Schedule of Concentration Risks
The percentage of total revenues by customer who individually accounted for 10% or more of our total revenues were as follows:
Three Months Ended March 31,
20262025
Affiliates of Cencora, Inc.
22%23%
Affiliates of McKesson Corporation18%18%
Affiliates of CVS Health Corporation16%14%
Accredo Health, Incorporated10%12%
Affiliates of Optum Specialty Pharmacy*10%
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(*) Represents less than 10% of our total revenues in the applicable period.
The percentage of trade receivables by customer who individually accounted for 10% or more of our trade receivables were as follows:
March 31, 2026December 31, 2025
Affiliates of Cencora, Inc.25%23%
Affiliates of McKesson Corporation23%25%
Ipsen Pharma SAS15%19%
Affiliates of CVS Health Corporation13%13%
Cardinal Health, Inc.11%12%
Schedule of Revenues Disaggregated by Geographic Region
Total revenues by geographic region were as follows (in thousands):
Three Months Ended March 31,
20262025
U.S.$558,546 $517,184 
Europe39,568 32,706 
Japan12,698 5,557 
Total revenues$610,812 $555,447 
Schedule of Activities and Ending Reserve Balances for Significant Categories of Discounts and Allowances
The activities and ending reserve balances for each significant category of discounts and allowances (which constitute variable consideration) were as follows (in thousands):
Chargebacks, Discounts for Prompt Payment and Other
Other Customer Credits/Fees and Co-pay Assistance
Rebates
Total
Balance at December 31, 2025
$34,223 $23,612 $36,284 $94,119 
Provision related to sales made in:
Current period155,874 21,319 63,447 240,640 
Prior periods614 (294)(583)(263)
Payments and customer credits issued(154,966)(23,710)(54,183)(232,859)
Balance at March 31, 2026
$35,745 $20,927 $44,965 $101,637 
Schedule of Other Assets and Other Liabilities
Contract liabilities were as follows (in thousands):
March 31, 2026December 31, 2025
Contract liabilities:
Current portion(1)
$1,154 $1,115 
Non-current portion(2)
5,164 6,112 
Total contract liabilities$6,318 $7,227 
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(1) Presented in other current liabilities in the accompanying Condensed Consolidated Balance Sheets.
(2) Presented in other non-current liabilities in the accompanying Condensed Consolidated Balance Sheets.