v3.26.3
Segment Information
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment Information

9. Segment Information

The Company's chief operating decision maker, or CODM, the Chief Executive Officer, manages the Company’s business activities as a single reportable segment. The segment derives its current revenues from the sale of VOQUEZNA products. Accordingly, the CODM uses net income (loss) to measure segment profit or loss, allocate resources and assess performance. Further, the CODM reviews and utilizes functional expenses (research and development, general and administrative, sales and marketing and stock-based compensation) to manage the Company’s operations. Other segment items included in net loss are interest income, interest expense and other expense, which are reflected in the condensed statements of operations and comprehensive loss. The measure of segment assets is reported on the condensed balance sheets as total assets.

The following table presents selected financial information with respect to the Company’s single operating segment for the nine months ended September 30, 2026 and 2025 (in thousands):

 

 

Nine Months Ended
September 30,

 

 

 

2026

 

 

2025

 

Product revenue, net

 

$

217,297

 

 

$

117,526

 

Less:

 

 

 

 

 

 

Cost of revenue

 

 

45,458

 

 

 

14,951

 

Research and development

 

 

21,577

 

 

 

20,244

 

General and administrative

 

 

22,818

 

 

 

26,856

 

Sales and marketing

 

 

128,805

 

 

 

186,424

 

Stock-based compensation

 

 

18,167

 

 

 

23,109

 

Interest income

 

 

(4,846

)

 

 

(5,840

)

Interest expense

 

 

46,287

 

 

 

51,696

 

Other expense, net

 

 

879

 

 

 

185

 

Segment net loss

 

$

(61,848

)

 

$

(200,099

)