v3.26.3
Segments
9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segments Segments
General Information
The Company has a single operating segment, which was determined based on the chief operating decision maker (“CODM”), which is our Chief Executive Officer, assessing performance and allocating resources on a consolidated basis.
The operating segment derives its revenues primarily through sales of pharmaceutical products. All long-lived assets were held in the United States as of December 31, 2025 and September 30, 2026. All revenues were generated in the United States during the three and nine months ended September 30, 2025 and 2026.
Measure of segment profit or loss and assets
The CODM assesses performance of the operating segment and decides how to allocate resources based on net income, which also is reported on the consolidated statements of operations as net income. In addition to comparing net income against forecasted net income, the CODM uses net income to evaluate income generated from segment assets (return on assets) in deciding whether to reinvest profits into the operating segment or expansion of the operating segment through acquisitions.
The measure of operating segment assets is reported on the consolidated balance sheets as total assets. The accounting policies of the operating segment are the same as those of the Company.
Reportable segment reconciliation
The following reconciliation presents operating segment revenue, net income, and significant segment expenses:
Three Months Ended
September 30,
Nine Months Ended
September 30,
(in thousands)2025202620252026
Revenue$377,427 $371,070 $1,051,069 $1,059,433 
Less:
Employee expenses (excluding share-based compensation expense)80,49688,855228,518256,048
Share-based compensation expense4,356 2,73512,770 7,528 
Other segment items (1)
269,946247,394 750,361703,594 
Depreciation and amortization5,8385,93216,59417,716
Interest expense160 177 502 485 
Income taxes7,0386,85714,63119,277
Segment net income$9,593 $19,120 $27,693 $54,785 
Reconciliation of net income to consolidated statements of operations
Adjustments and reconciling items— — — — 
Consolidated net income$9,593 $19,120 $27,693 $54,785 
(1) Other segment items included in operating segment net income include product expenses, legal expenses and settlements, rent and auto lease expenses, utilities expenses, maintenance expenses, and other overhead expenses.