v3.26.1
Note 11 - Segment and Geographic Information
6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

11. Segment and Geographic Information

 

The Company operates in one single operating and reportable segment, which includes all activities related to the sale of the Company’s oral and IV TPOXX® as well as research and development services. The Company derives revenue primarily from sales to the U.S. Government as well as international governments (including government affiliated entities) and manages the business activities on a consolidated basis. The segment derives revenues from customers through the delivery of product and fulfillment of research and development services.

 

The Chief Operating Decision Maker ("CODM") assesses performance for the segment and decides how to allocate resources based on net income that also is reported on the income statement as consolidated net income. Consolidated net income is also a measure that is considered in monitoring budget versus actual results.

 

The CODM does not review assets in evaluating the results of the segment, and therefore, such information is not presented.

 

The following table provides the operating result of the Company's segment:

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2026

  

2025

  

2026

  

2025

 

Revenue

                

Product sales and supportive services

 $37,870,335  $79,124,860  $41,408,212  $84,946,107 

Research and development

  3,131,918   1,995,144   5,836,622   3,214,711 

Total revenues

  41,002,253   81,120,004   47,244,834   88,160,818 

Less:

                

Cost of sales and supportive services

  17,561,185   25,554,462   20,502,069   25,712,200 

Employee expenses

  4,554,433   4,425,977   9,052,509   8,596,897 

R&D vendor expenses

  1,789,690   1,798,531   2,974,356   2,719,991 

Professional service fee expenses

  495,767   554,192   992,817   1,842,835 

Other segment items (1)

  2,695,600   3,106,973   5,138,667   5,864,425 

Other income, net

  (946,898)  (1,592,304)  (2,224,378)  (3,277,288)

Provision for income taxes

  2,389,042   11,789,070   1,799,610   11,626,878 

Net income

 $12,463,434  $35,483,103  $9,009,184  $35,074,880 
 

(1) Other segment items include insurance, business development costs, regulatory and consultant expenses, as well as various general corporate costs.

 

Revenues by geographic region were as follows:

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2026

  

2025

  

2026

  

2025

 

United States

 $28,034,399  $81,120,004  $34,276,980  $82,339,571 
                 

International

                

Asia-Pacific

  12,695,316      12,695,316    

EMEA

  272,538      272,538    

Canada

           5,821,247 

Total International

  12,967,854      12,967,854   5,821,247 
                 

Total revenues

 $41,002,253  $81,120,004  $47,244,834  $88,160,818