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

14. Segment Information

The Company reports segment information using the management approach and views its operations and manages its business as a single operating segment. The Company’s Chief Operating Decision Maker (“CODM”), who is the Chief Executive Officer, allocates resources and evaluates the performance of the operating segment based on historical and projected product sales, segment operating expenses, and consolidated net loss, as reflected in the accompanying condensed consolidated statements of operations and comprehensive loss, which is the segment measure of loss.

The segment reports that are provided to the CODM are tracked against the Company’s internally budgeted expenses. The segment operating expense categories consist primarily of the Company’s functional departments: clinical, development, medical affairs, sales and marketing, and general and administrative. The CODM does not review assets when evaluating the operating segment’s performance; therefore, this information is not presented.

Certain prior period segment expenses have been recast to conform to the manner in which our Chief Operating Decision Maker reviews the information during the current period. The recast did not impact the Company’s previously reported consolidated results of operations.

Segment reporting for the three and nine months ended September 30, 2026 and 2025 (in thousands) is as follows:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Total revenue

 

$

37,710

 

 

$

32,501

 

 

$

94,049

 

 

$

56,191

 

Less segment operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of goods sold

 

 

10,098

 

 

 

8,191

 

 

 

29,230

 

 

 

14,269

 

Clinical

 

 

1,991

 

 

 

1,457

 

 

 

5,725

 

 

 

3,911

 

Development

 

 

14,306

 

 

 

690

 

 

 

17,918

 

 

 

3,942

 

Medical affairs

 

 

811

 

 

 

1,086

 

 

 

3,363

 

 

 

3,104

 

Sales and marketing

 

 

27,649

 

 

 

63,211

 

 

 

140,072

 

 

 

135,259

 

General and administrative

 

 

8,861

 

 

 

5,002

 

 

 

25,369

 

 

 

16,473

 

Stock-based compensation

 

 

8,122

 

 

 

5,689

 

 

 

27,940

 

 

 

16,358

 

Other segment operating expenses

 

 

43

 

 

 

367

 

 

 

213

 

 

 

858

 

Other segment (income) expense:

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

(1,136

)

 

 

(2,097

)

 

 

(4,709

)

 

 

(8,065

)

Interest expense

 

 

2,552

 

 

 

56

 

 

 

7,472

 

 

 

56

 

Segment net loss

 

$

(35,587

)

 

$

(51,151

)

 

$

(158,544

)

 

$

(129,974

)

 

The following table summarizes revenue by geographic area based on the customers’ location (in thousands):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

United States

 

$

33,414

 

 

$

31,300

 

 

$

77,076

 

 

$

51,863

 

Denmark

 

*

 

 

*

 

 

 

7,786

 

 

 

4,079

 

Japan

 

*

 

 

*

 

 

 

5,995

 

 

*

 

Rest of world

 

 

4,296

 

 

 

1,201

 

 

 

3,192

 

 

 

249

 

Total revenue

 

$

37,710

 

 

$

32,501

 

 

$

94,049

 

 

$

56,191

 

_____________

* Revenue from this country was not individually material for the indicated period and is included within “Rest of world.”