| Business Segment Information |
Note 12. Business Segment Information The Company has one business activity and operates as one operating segment: the development and commercialization of ophthalmic therapies designed to treat glaucoma, corneal disorders and retinal diseases. The Company determined its operating segment on the same basis that it uses to evaluate its performance internally. The Company’s revenues disaggregated by revenue and product category are included in Note 7. Revenue from Contracts with Customers. The Company’s chief operating decision-maker, its Chief Executive Officer, reviews its consolidated operating results for the purpose of allocating resources and evaluating financial performance.
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Three months ended September 30, |
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Nine months ended September 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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|
(in thousands) |
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|
(in thousands) |
|
Net sales |
|
$ |
211,030 |
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|
$ |
133,537 |
|
|
$ |
547,211 |
|
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$ |
364,321 |
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Less: |
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Cost of sales |
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|
31,164 |
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|
|
28,831 |
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|
|
98,519 |
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|
|
80,043 |
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Sales, marketing & distribution |
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|
55,238 |
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|
40,207 |
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|
|
158,136 |
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|
114,675 |
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Research & development |
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|
30,953 |
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|
26,859 |
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|
|
92,818 |
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|
|
75,583 |
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Clinical |
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17,142 |
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|
11,213 |
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|
50,723 |
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|
|
31,380 |
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General & administrative |
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|
75,705 |
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|
42,792 |
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|
181,810 |
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|
122,372 |
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Acquired in-process research and development |
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|
— |
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— |
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1,500 |
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— |
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Significant segment expenses |
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|
210,202 |
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|
149,902 |
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|
|
583,506 |
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|
|
424,053 |
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Interest income |
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|
2,493 |
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|
|
2,552 |
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|
|
7,203 |
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|
|
8,202 |
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Interest expense |
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|
(1,087 |
) |
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(1,175 |
) |
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(3,671 |
) |
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(3,489 |
) |
Other income (expense), net |
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|
87 |
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(1,009 |
) |
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(1,936 |
) |
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|
1,793 |
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Income tax provision |
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|
303 |
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|
|
234 |
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|
|
1,443 |
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|
808 |
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Net income (loss) |
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$ |
2,018 |
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|
$ |
(16,231 |
) |
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$ |
(36,142 |
) |
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$ |
(54,034 |
) |
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Property and equipment, net |
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Depreciation and amortization |
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Capital expenditures |
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September 30, |
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December 31, |
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Nine Months September 30, |
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Nine Months September 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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|
2026 |
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|
2025 |
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United States |
|
$ |
111,502 |
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|
$ |
113,054 |
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$ |
29,566 |
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|
$ |
25,891 |
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|
$ |
8,323 |
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$ |
4,678 |
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International |
|
|
566 |
|
|
|
199 |
|
|
|
54 |
|
|
|
38 |
|
|
|
453 |
|
|
|
74 |
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Total |
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$ |
112,068 |
|
|
$ |
113,253 |
|
|
$ |
29,620 |
|
|
$ |
25,929 |
|
|
$ |
8,776 |
|
|
$ |
4,752 |
|
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