v3.26.1
Revenues (Tables)
 6 Months Ended
Jul. 03, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
Revenues consisted of the following (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Product revenues:
Gross product revenues$812,782 $745,280 $1,608,136 $1,466,991 
Discounts and allowances(239,757)(225,266)(480,134)(433,694)
Net product revenues573,025 520,014 1,128,002 1,033,297 
Collaboration revenues:
License revenues59,810 49,301 116,758 91,781 
Collaboration services revenues(4,145)(1,054)(5,258)(1,370)
Collaboration revenues
55,665 48,247 111,500 90,411 
Total revenues$628,690 $568,261 $1,239,502 $1,123,708 
Net product revenues by product were as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
CABOMETYX$570,648 $517,890 $1,123,421 $1,028,762 
COMETRIQ 2,377 2,124 4,581 4,535 
Net product revenues$573,025 $520,014 $1,128,002 $1,033,297 
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 June 30,Six Months Ended June 30,
2026202520262025
Affiliates of McKesson Corporation21%18%20%18%
Affiliates of Cencora, Inc.
20%22%21%22%
Affiliates of CVS Health Corporation15%16%15%15%
Accredo Health Group, Inc.10%12%10%12%
Cardinal Health, Inc.10%***
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:
June 30, 2026December 31, 2025
Affiliates of McKesson Corporation26%25%
Affiliates of Cencora, Inc.23%23%
Ipsen Pharma SAS17%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 June 30,Six Months Ended June 30,
2026202520262025
U.S.$578,361 $524,768 $1,136,907 $1,041,952 
Europe46,007 37,033 85,575 69,739 
Japan4,322 6,460 17,020 12,017 
Total revenues$628,690 $568,261 $1,239,502 $1,123,708 
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 period316,366 37,604 126,249 480,219 
Prior periods502 (402)(185)(85)
Payments and customer credits issued(318,885)(39,750)(116,701)(475,336)
Balance at June 30, 2026
$32,206 $21,064 $45,647 $98,917 
Schedule of Other Assets and Other Liabilities
Contract liabilities were as follows (in thousands):
June 30, 2026December 31, 2025
Contract liabilities:
Current portion(1)
$1,032 $1,115 
Non-current portion(2)
4,667 6,112 
Total contract liabilities$5,699 $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.