| Segment Reporting |
17. SEGMENT REPORTING Segment Information The Company’s significant segment expenses that are regularly provided to the Company’s CODM are as follows:
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Three Months Ended |
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Nine Months Ended |
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September 30, |
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September 30, |
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(In thousands) |
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2026 |
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2025 |
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2026 |
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2025 |
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REVENUES: |
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Total revenue |
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$ |
480,132 |
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$ |
394,185 |
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$ |
1,369,052 |
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$ |
1,091,352 |
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EXPENSES: |
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Cost of goods manufactured and sold (exclusive of amortization of acquired intangible assets shown below) |
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94,220 |
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51,591 |
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253,910 |
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150,248 |
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External R&D expenses: |
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Development programs: |
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Alixorexton |
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39,092 |
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25,812 |
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93,387 |
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67,461 |
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LYBALVI |
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5,316 |
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4,759 |
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14,704 |
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13,661 |
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LUMRYZ |
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1,164 |
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— |
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8,798 |
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— |
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Other orexin programs |
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14,893 |
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4,222 |
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36,837 |
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10,400 |
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Other external R&D expenses |
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13,584 |
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8,426 |
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38,521 |
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23,810 |
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Total external R&D expenses |
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74,049 |
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43,219 |
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192,247 |
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115,332 |
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Internal R&D expenses: |
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Employee-related |
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38,465 |
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30,862 |
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119,092 |
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92,867 |
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Occupancy |
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3,357 |
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3,241 |
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9,956 |
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9,696 |
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Depreciation |
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1,865 |
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1,405 |
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5,402 |
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4,346 |
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Other internal R&D expenses |
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3,384 |
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3,012 |
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10,688 |
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8,685 |
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Total internal R&D expenses |
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47,071 |
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38,520 |
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145,138 |
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115,594 |
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R&D expenses |
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121,120 |
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81,739 |
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337,385 |
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230,926 |
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Selling, general and administrative expenses: |
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Selling and marketing expense |
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148,070 |
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115,630 |
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457,346 |
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359,740 |
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General and administrative expense |
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60,432 |
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56,143 |
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233,374 |
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154,586 |
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Total selling, general and administrative expense |
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208,502 |
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171,773 |
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690,720 |
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514,326 |
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Other segment expense (1) |
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(40,003 |
) |
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(6,321 |
) |
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(136,729 |
) |
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(3,529 |
) |
NET (LOSS) INCOME |
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16,287 |
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82,761 |
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(49,692 |
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192,323 |
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(1)“Other segment expense” during the three and nine months ended September 30, 2026 and 2025, includes “Amortization of acquired intangible assets”, “Change in fair value of contingent consideration”, “Total other (expense) income, net” and “Income tax provision (benefit)”. |