v3.26.1
Revenues
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenues

Note 13. Revenues

The Company sells AUVELITY, SUNOSI, and SYMBRAVO in the United States through the Distributors. The Company also sells SUNOSI to Distributors in Canada and on a product supply basis to Pharmanovia. SUNOSI is subsequently sold by Pharmanovia in certain ex-U.S. markets. For the six months ended June 30, 2026, the Company’s three largest customers represented approximately 38%, 27%, and 24% of the Company’s gross product sales.

Royalty revenue is related to the sales of SUNOSI by Pharmanovia in certain ex-U.S. markets and milestone revenue consists of $0.5 million related to an achievement of a regulatory milestone for AUVELITY recorded in the first quarter of 2026 and $0.5 million related to an achievement of a developmental milestone for SUNOSI recorded in the second quarter of 2026.

The following table presents a summary of total revenues by product:

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Product sales, net

 

 

 

 

 

 

 

 

 

 

 

 

AUVELITY

 

$

180,282

 

 

$

119,642

 

 

$

332,978

 

 

$

215,873

 

SUNOSI

 

 

33,820

 

 

 

28,907

 

 

 

66,451

 

 

 

53,034

 

SYMBRAVO

 

 

2,253

 

 

 

410

 

 

 

6,326

 

 

 

410

 

Total product sales, net

 

 

216,355

 

 

 

148,959

 

 

 

405,755

 

 

 

269,317

 

AUVELITY milestone revenue

 

 

—

 

 

 

—

 

 

 

500

 

 

 

—

 

SUNOSI milestone revenue

 

 

546

 

 

 

—

 

 

 

546

 

 

 

—

 

SUNOSI royalty revenue

 

 

1,474

 

 

 

1,083

 

 

 

2,777

 

 

 

2,188

 

Total revenues

 

$

218,375

 

 

$

150,042

 

 

$

409,578

 

 

$

271,505

 

The following table presents a summary of total revenues by geographic location:

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Product sales, net

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$

215,367

 

 

$

146,446

 

 

$

404,239

 

 

$

265,859

 

Outside of the United States

 

 

988

 

 

 

2,513

 

 

 

1,516

 

 

 

3,458

 

Total product sales, net

 

 

216,355

 

 

 

148,959

 

 

 

405,755

 

 

 

269,317

 

Royalty and milestone revenue

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

 

—

 

 

 

—

 

 

 

500

 

 

 

—

 

Outside of the United States

 

 

2,020

 

 

 

1,083

 

 

 

3,323

 

 

 

2,188

 

Total revenues

 

$

218,375

 

 

$

150,042

 

 

$

409,578

 

 

$

271,505

 

 

For the six months ended June 30, 2026, product sales, net includes adjustments for provisions for product sales made in previous fiscal years resulting from changes in estimates of $1.2 million for AUVELITY, $2.4 million for SUNOSI, and $0.1 million for SYMBRAVO. For the six months ended June 30, 2025, product sales, net includes adjustments for provisions for product sales made in previous fiscal years resulting from changes in estimates of $1.1 million for AUVELITY and $0.9 million for SUNOSI.