| Segment Reporting |
12. Segment Reporting Substantially all revenues from the three and six months ended June 30, 2026 and 2025 were generated from customers in North America. The following table illustrates reported segment revenue, segment profit and significant segment expenses (in thousands):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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NUPLAZID net revenue |
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$ |
183,132 |
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$ |
168,479 |
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$ |
350,056 |
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$ |
328,199 |
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DAYBUE products net revenue |
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|
124,827 |
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|
96,087 |
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|
|
225,965 |
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|
180,683 |
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Total revenues |
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307,959 |
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|
264,566 |
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|
576,021 |
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|
508,882 |
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Less: |
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Cost of product sales |
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12,785 |
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|
8,384 |
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24,449 |
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|
17,595 |
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License fees and royalties |
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15,531 |
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12,350 |
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28,658 |
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|
23,531 |
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Research and development expense: |
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External research and development |
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55,395 |
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54,319 |
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104,218 |
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109,304 |
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Internal costs(1) |
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26,160 |
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23,632 |
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51,704 |
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46,912 |
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Upfront and milestone payments |
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— |
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— |
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2,501 |
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— |
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Total research and development expense |
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81,555 |
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|
77,951 |
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158,423 |
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|
156,216 |
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Selling, general and administrative |
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|
160,252 |
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|
133,507 |
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|
331,271 |
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|
259,877 |
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Interest income, net |
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(7,990 |
) |
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(7,243 |
) |
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|
(16,045 |
) |
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(15,144 |
) |
Other income |
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|
(647 |
) |
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(594 |
) |
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(1,189 |
) |
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(1,183 |
) |
Income tax expense |
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14,973 |
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|
13,545 |
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|
15,317 |
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|
22,337 |
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Consolidated net income |
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$ |
31,500 |
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$ |
26,666 |
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$ |
35,137 |
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$ |
45,653 |
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_______________ (1)Includes personnel expenses and costs allocated to multiple research and development programs, including benefits, information technology, facilities and inventory.
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