v3.26.3
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2026
Single Reportable Segment  
Segment Reporting [Line Items]  
Schedule of the reportable segment and includes the reconciliation to consolidated net loss

The following table provides information about the Company’s one reportable segment and includes the reconciliation to consolidated net loss.

 

 

 

Three months ended September 30,

 

 

Nine months ended September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Total revenues

 

$

259,691

 

 

$

170,992

 

 

$

669,269

 

 

$

442,497

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue (excluding amortization and depreciation)

 

 

17,804

 

 

 

11,912

 

 

 

46,093

 

 

 

35,149

 

Research and development expense (excluding stock-based compensation expense):

 

 

 

 

 

 

 

 

 

 

 

 

Solriamfetol

 

 

16,471

 

 

 

9,518

 

 

 

41,099

 

 

 

32,094

 

AXS-05

 

 

12,974

 

 

 

13,855

 

 

 

35,369

 

 

 

42,896

 

AXS-07

 

 

4,793

 

 

 

4,825

 

 

 

14,847

 

 

 

15,379

 

AXS-12

 

 

2,013

 

 

 

1,873

 

 

 

5,900

 

 

 

6,019

 

AXS-14

 

 

3,502

 

 

 

(1,460

)

 

 

9,742

 

 

 

5,951

 

Other research and development(a)

 

 

3,258

 

 

 

4,744

 

 

 

20,316

 

 

 

11,942

 

General and administrative expense (excluding stock-based compensation expense)

 

 

17,660

 

 

 

19,739

 

 

 

64,299

 

 

 

44,623

 

Selling and marketing expense (excluding stock-based compensation expense)

 

 

166,701

 

 

 

114,200

 

 

 

477,251

 

 

 

305,864

 

Stock-based compensation expense

 

 

26,356

 

 

 

23,103

 

 

 

76,942

 

 

 

71,022

 

Loss (Gain) in fair value of contingent consideration

 

 

(2,380

)

 

 

13,185

 

 

 

(3,286

)

 

 

6,595

 

Interest expense, net(b)

 

 

1,721

 

 

 

1,120

 

 

 

4,446

 

 

 

5,385

 

Other segment items(c)

 

 

1,695

 

 

 

1,607

 

 

 

4,984

 

 

 

14,193

 

Segment net loss

 

 

(12,877

)

 

 

(47,229

)

 

$

(128,733

)

 

$

(154,615

)

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of net loss

 

 

 

 

 

 

 

 

 

 

 

 

Adjustments and reconciling items

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Consolidated net loss

 

 

(12,877

)

 

 

(47,229

)

 

$

(128,733

)

 

$

(154,615

)
(a)
Other research and development expenses primarily consist of facilities charges, third party consultant costs, costs related to other product candidates, costs related to asset acquisitions, and other unallocated costs.
(b)
Interest expense, net of $1,721 for the three months ended September 30, 2026 comprises (i) consolidated interest expense of $3,415 and (ii) consolidated interest income of $1,694. Interest expense, net of $4,446 for the nine months ended September 30, 2026 comprises (i) consolidated interest expense of $9,707 and (ii) consolidated interest income of $5,261. Interest expense, net of $1,120 for the three months ended September 30, 2025 comprises (i) consolidated interest expense of $3,375 and (ii) consolidated interest income of $2,255. Interest expense, net of $5,385 for the nine months ended September 30, 2025 comprises (i) consolidated interest expense of $12,719 and (ii) consolidated interest income of $7,334.
(c)
Other segment items included in Segment net loss include intangible asset amortization, loss on debt extinguishment, and other miscellaneous items.