| Segment Information and Geographic Data |
14. Segment Information and Geographic Data The Company manages its operations as a single operating segment for the purposes of assessing performance and making operating decisions. The Company’s singular focus is on developing and commercializing novel therapies that target cardiovascular diseases with significant unmet medical need. The Company’s Chief Operating Decision Maker (“CODM”) is the Chief Executive Officer. The Company’s CODM reviews consolidated operating results and decides how to allocate resources based on net income that also is reported on the income statement as consolidated net income. The measure of segment assets is reported on the balance sheet as total consolidated assets. The CODM utilizes net income to make key decisions about how to allocate resources across the Company’s commercial product and development programs. The following table presents selected financial information with respect to the Company’s single operating segment for the three and nine months ended September 30, 2026 and 2025: | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | September 30, | | September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Revenue: | | | | | | | | | | | | | Product revenue, net | | $ | 285,970 | | $ | 180,855 | | $ | 743,836 | | $ | 475,437 | License and collaboration revenue | | | - | | | - | | | - | | | - | Total revenue | | | 285,970 | | | 180,855 | | | 743,836 | | | 475,437 | Operating expenses: | | | | | | | | | | | | | Cost of goods sold | | | 27,759 | | | 20,257 | | | 72,127 | | | 56,728 | Collaboration expenses | | | 105,828 | | | 63,307 | | | 269,474 | | | 159,515 | Direct research and development expenses by program: | | | | | | | | | | | | | ARCALYST | | | 176 | | | 269 | | | 849 | | | 795 | KPL-387 | | | 17,250 | | | 11,380 | | | 54,844 | | | 25,043 | KPL-1161 | | | 1,621 | | | 1,792 | | | 3,342 | | | 2,262 | Abiprubart | | | 77 | | | 708 | | | 306 | | | 5,710 | Unallocated research and development expenses | | | 13,662 | | | 10,017 | | | 41,819 | | | 28,434 | Selling, general and administrative | | | 65,361 | | | 49,104 | | | 190,378 | | | 139,497 | Total operating expenses | | | 231,734 | | | 156,834 | | | 633,139 | | | 417,984 | Other income, net (1) | | | 4,821 | | | 3,136 | | | 12,186 | | | 8,146 | Income before income taxes | | | 59,057 | | | 27,157 | | | 122,883 | | | 65,599 | Provision for income taxes | | | (11,712) | | | (8,722) | | | (27,514) | | | (20,793) | Net income | | $ | 47,345 | | $ | 18,435 | | $ | 95,369 | | $ | 44,806 | | | | | | | | | | | | | | Other significant noncash items: | | | | | | | | | | | | | Share-based compensation expense | | $ | 13,065 | | $ | 10,144 | | $ | 34,757 | | $ | 26,768 | Non-cash lease expense | | | 1,005 | | | 944 | | | 3,010 | | | 2,703 | Deferred income taxes | | | (6,565) | | | 4,227 | | | 619 | | | 9,864 |
(1)Includes interest income of $4,990 and $12,355 for the three and nine months ended September 30, 2026, respectively. Includes interest income of $3,149 and $8,170 for the three and nine months ended September 30, 2025, respectively. The following table presents total revenue by geographic region of the customer for the three and nine months ended September 30, 2026 and 2025: | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | September 30, | | September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Revenue: | | | | | | | | | | | | | United States | | $ | 285,727 | | $ | 180,709 | | $ | 742,911 | | $ | 474,811 | United Kingdom | | | 243 | | | 146 | | | 925 | | | 626 | Total revenue | | $ | 285,970 | | $ | 180,855 | | $ | 743,836 | | $ | 475,437 |
The following table presents property and equipment, net by geographic region (in thousands): | | | | | | | | | September 30, | | December 31, | | | 2026 | | 2025 | Property and equipment, net | | | | | | | United States | | $ | 1,273 | | $ | 1,608 | United Kingdom | | | 102 | | | 76 | Rest of world | | | 1,089 | | | 259 | Total property and equipment, net | | $ | 2,464 | | $ | 1,943 |
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