Description of Business and Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2026

Schedule of Segment Revenues and Significant Expense Categories in Consolidated Statements of Operations

The table below shows the details of the Company’s segment revenues and significant expense categories regularly provided to and reviewed by the CODM as well as other significant segment items included in consolidated net income in the condensed consolidated statements of operations:


	Three Months Ended September 30,						Nine Months Ended September 30,
Revenues	2026			2025			2026			2025
Afrezza	$	19,349		$	18,493		$	51,643		$	51,709
Furoscix		22,376			—			60,061			—
V-Go		3,277			3,812			9,188			12,023
Collaborations and services		19,405			26,506			77,941			78,727
Royalties		37,463			33,319			102,583			94,552
Total revenues		101,870			82,130			301,416			237,011
Less significant segment expenses (income):
Cost of goods sold – commercial, excluding amortization of acquired intangible assets		11,213			4,498			33,130			12,873
Cost of revenue – collaborations and services		12,299			15,705			37,393			45,414
Amortization of intangible assets		5,160			—			13,895			—
Research and development		14,360			14,063			49,592			38,760
Selling		45,442			14,694			124,927			43,335
General and administrative		15,970			14,394			48,874			42,389
Interest income, net		(1,090	)		(2,628	)		(3,541	)		(6,416	)
Interest expense, net		10,577			7,334			37,829			24,157
Impairment of available-for-sale investment		—			6,409			—			6,409
Loss on settlement of debt		—			—			917			—
Other(1)		11,163			(324	)		17,274			8,279
Consolidated net (loss) income	$	(23,224	)	$	7,985		$	(58,874	)	$	21,811

(1) Includes (gain) loss on foreign currency transaction, expense related to the fair value adjustment of the contingent consideration and income tax expense (benefit).

Summary of Net Revenue Generated From Product Sales, Services and Royalties

The Company’s net revenue as shown on the condensed consolidated statements of operations is comprised of the following (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Net revenue:
Product revenue (1)	$	61,528	$	48,274	$	189,031	$	140,743
Services (2)		2,879		537		9,802		1,716
Royalties (3)		37,463		33,319		102,583		94,552
Total net revenue	$	101,870	$	82,130	$	301,416	$	237,011

(1)

Amounts represent the revenue from Afrezza, Furoscix and V-Go sales to wholesale distributors, specialty and retail pharmacies, DMEs, specialty distributors and direct purchasers and from the manufacture of Tyvaso DPI delivered to UT.

(2)

Amounts represent revenue generated from the Company's collaboration arrangements, including services related to the development agreement with UT as well as arrangements with other collaboration partners. See Note 10 – Collaborations, Licensing and Other Arrangements.

(3)

Amounts represent royalties earned based on UT’s net revenue from Tyvaso DPI sales.