v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information

14. Segment Information

The Company reports segment information using the management approach and views its operations and manages its business as a single operating segment. The Company’s Chief Operating Decision Maker (“CODM”), who is the Chief Executive Officer, allocates resources and evaluates the performance of the operating segment based on historical and projected product sales, segment operating expenses, and consolidated net loss, as reflected in the accompanying condensed consolidated statements of operations and comprehensive loss, which is the segment measure of loss.

The segment reports that are provided to the CODM are tracked against the Company’s internally budgeted expenses. The segment operating expense categories consist primarily of the Company’s functional departments: clinical, development, medical affairs, sales and marketing, and general and administrative. The CODM does not review assets when evaluating the operating segment’s performance; therefore, this information is not presented.

Segment reporting for the three and six months ended June 30, 2026 and 2025 (in thousands) is as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Total revenue

 

$

33,658

 

 

$

15,717

 

 

$

56,339

 

 

$

23,690

 

Less segment operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of goods sold

 

 

12,846

 

 

 

4,984

 

 

 

19,132

 

 

 

6,078

 

Clinical

 

 

1,951

 

 

 

1,250

 

 

 

3,734

 

 

 

2,454

 

Development

 

 

1,886

 

 

 

2,151

 

 

 

3,612

 

 

 

3,252

 

Medical affairs

 

 

1,338

 

 

 

1,073

 

 

 

2,552

 

 

 

2,018

 

Sales and marketing

 

 

52,880

 

 

 

40,925

 

 

 

108,839

 

 

 

67,682

 

General and administrative

 

 

11,715

 

 

 

7,118

 

 

 

20,092

 

 

 

15,837

 

Stock-based compensation

 

 

12,395

 

 

 

5,371

 

 

 

19,818

 

 

 

10,669

 

Other segment operating expenses

 

 

112

 

 

 

459

 

 

 

170

 

 

 

491

 

Other segment (income) expense:

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

(1,605

)

 

 

(2,731

)

 

 

(3,573

)

 

 

(5,968

)

Interest expense

 

 

2,479

 

 

 

—

 

 

 

4,920

 

 

 

—

 

Segment net loss

 

$

(62,339

)

 

$

(44,883

)

 

$

(122,957

)

 

$

(78,823

)

 

The following table summarizes revenue by geographic area based on the customers’ location (in thousands):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

United States

 

$

26,210

 

 

$

12,800

 

 

$

43,662

 

 

$

20,563

 

Denmark

 

*

 

 

 

2,883

 

 

 

5,768

 

 

 

3,093

 

Japan

 

 

3,365

 

 

*

 

 

*

 

 

*

 

Rest of world

 

 

4,083

 

 

 

34

 

 

 

6,909

 

 

 

34

 

Total revenue

 

$

33,658

 

 

$

15,717

 

 

$

56,339

 

 

$

23,690

 

_____________

* Revenue from this country was not individually material for the indicated period and is included within “Rest of world.”