v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 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 earnings (loss), which is reported in the condensed consolidated statement of earnings (loss) as net earnings (loss), and allocates resources on a consolidated basis. The CODM uses net earnings (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 earnings (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 earnings (dollars in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
(unaudited)(unaudited)
Total revenues
$219,058 $165,453 $426,763 $315,277 
Less: Significant segment expenses:
Cost of revenues33,669 16,827 57,060 32,590 
Selling expenses
68,910 44,398 135,188 87,012 
Marketing expenses
23,881 20,732 44,578 41,396 
General and administrative expenses40,846 28,421 79,044 55,087 
Research and development expenses


External development program expenses:
ONAPGO
515 789 776 1,261 
SPN-8202,968 2,199 4,817 6,962 
SPN-817(a)
6,943 3,446 23,500 7,017 
SPN-443678 616 1,046 1,026 
Qelbree2,217 2,224 4,581 6,637 
ZURZUVAE
73 — 155 — 
Early-stage programs and other expenses
5,470 2,863 11,667 5,666 
Total external development program expenses
18,864 12,137 46,542 28,569 
Internal employee-related expenses
10,599 9,978 22,359 20,473 
Total research and development expenses
29,463 22,115 68,901 49,042 
Other segment items(b)
80,660 10,461 102,656 39,478 
Net earnings (loss)$(58,371)$22,499 $(60,664)$10,672 
(a) Includes amount related to Biscayne amendment. Refer to Note 17, Commitments and Contingencies.
(b) Other segment items include amortization of intangible assets, intangible asset impairment charges, contingent consideration loss, net interest and other income, interest expense, and income tax expense (benefit) whose amounts are disclosed in the condensed consolidated statement of earnings (loss).