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Revenues and Trade Receivables, Net
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenues and Trade Receivables, Net Revenues and Trade Receivables, Net
The Company’s revenue was comprised of the following:
 Year Ended December 31,
 20242023
Manufacture and supply revenue$39,976 $43,805 
License and royalty revenue15,345 5,376 
Co-development and research fees1,925 1,402 
Proprietary product revenue, net
315 — 
Total revenues
$57,561 $50,583 
Disaggregation of Revenue
The following table provides disaggregated net revenue by geographic area:
 Year Ended December 31,
 20242023
United States$39,930 $37,104 
Ex-United States17,631 13,479 
Revenues $57,561 $50,583 
For the year ended December 31, 2024, United States revenues were derived primarily from Indivior (manufacture and supply revenue, and co-development and research fees), MTPA (license and royalty revenue that was previously recorded as deferred revenue and now recognized due to the termination of the contract), and Assertio (manufacture and supply revenue, license and royalty revenue and co-development and research fees). Ex-United States revenues were derived primarily from Haisco (license and royalty revenue that was previously recorded as deferred revenue and now recognized due to the termination of the contract), Indivior (manufacture and supply revenue, license and royalty revenue and co-development and research fees), and Hypera (manufacture and supply revenue, license and royalty revenue and co-development and research fees) for revenue markets outside of the United States.
For the year ended December 31, 2023, United States revenues were derived primarily from Indivior (manufacture and supply revenue, and co-development and research fees), Assertio (manufacture and supply revenue, and license and royalty revenue), and Zevra (license and royalty revenue). Ex-United States revenues were derived primarily from Indivior (manufacture and supply revenue, license and royalty revenue and co-development and research fees) and Hypera (manufacture and supply revenue and license and royalty revenue) for revenue markets outside of the United States.
Trade and other receivable, net consist of the following:
 December 31,
 20242023
Trade receivables
$4,919 $5,570 
Contract and other receivables2,473 2,915 
Less: allowance for credit losses
— (14)
Less: sales-related allowances(48)— 
Trade and other receivables, net$7,344 $8,471 
Contract and other receivables totaled $2,473 and $2,915 as of December 31, 2024 and 2023, respectively, consisting primarily of contract assets and other receivables. Contract assets consist of products and services provided under specific contracts to customers for which earnings processes have been met prior to shipment of goods or full delivery of completed services, as well as estimated receivables from contracts with third parties. Other receivables include the current portion related to the Monetization royalty receivable and other receivables. Sales-related allowances as of December 31, 2024 were estimated in relation to revenues recognized for sales of Libervant for patients between two to five years of age.
The following table presents the changes in the allowance for credit losses:
December 31,
 20242023
Balance at beginning of the period
$14 $40 
Allowance reduction(14)(26)
Balance at end of the period
$— $14 
Sales-Related Allowances
Revenues from sales of products are recorded net of prompt payment discounts, wholesaler service fees, returns allowances, rebates and co-pay support redemptions. These reserves are based on estimates of the amounts earned or to be claimed on the related sales. These amounts are treated as variable consideration, estimated and recognized as a reduction of the transaction price at the time of the sale. The Company includes these estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized for such transaction will not occur, or when the uncertainty associated with the variable consideration is resolved. The calculation of some of these items requires management to make estimates based on sales data, historical return data, contracts and other related information that may become known in the future. The adequacy of these provisions is reviewed on a quarterly basis.
The following table presents the changes in sales-related allowances:
 December 31,
 20242023
Balance at beginning of period
$— $669 
Provision
71 — 
Payments / credits
(23)(87)
Reclassifications$— $(582)
Balance at end of period
$48 $— 
Accruals for returns allowances and prompt pay discounts are reflected as a direct reduction of trade receivables, and accruals for wholesaler service fees, co-pay support redemptions and other rebates are reflected as current liabilities. The accrued balances relative to these provisions included in Trade and other receivables, net and accrued expenses were $48 and $665, respectively, as of December 31, 2024, and $0 and $645, respectively, as of December 31, 2023. See Note 14, Accrued Expenses.
Concentration of Major Customers
Customers are considered major customers when net revenue exceeds 10% of total revenue for the period or outstanding receivable balances exceed 10% of total receivables. For the year ended December 31, 2024, Indivor and Haisco represented approximately 62% and 12% of total revenue, including the one-time recognition of deferred revenue for Haisco, respectively. As of December 31, 2024, Indivor and Cosmed exceeded the 10% threshold for outstanding receivable balances and represented 41% and 16%, respectively, of total trade and other receivables. For the year ended December 31, 2023, Indivor represented approximately 80% of total revenue. As of December 31, 2023, Indivor and Zevra Therapeutics, Inc. exceeded the 10% threshold for outstanding receivable balances and represented 65% and 13%, respectively of total trade and other receivables