Revenue

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue

REVENUE

Total revenues during the three months ended March 31, 2024 and 2023 were as follows (in thousands):

	Three Months Ended March 31,
	2024		2023
Product sales, net:
IBSRELA	$	28,361	$	11,355
XPHOZAH	15,151		—
Total product sales, net	43,512		11,355
Product supply revenue	2,126		2
Licensing revenue	17		12
Non-cash royalty revenue related to the sale of future royalties	368		—
Total revenues	$	46,023	$	11,369

Revenue from Customers who contributed greater than 10% of our total gross product revenue during the three months ended March 31, 2024 and 2023 was as follows (as a percentage of total gross product revenue):

	Three Months Ended March 31,
	2024		2023
BioRidge Pharma, LLC	39.9	%	17.6	%
AmerisourceBergen Drug Corporation	18.3	%	21.6	%
Cardinal Health	16.2	%	22.2	%
McKesson Corporation	13.5	%	20.8	%

The activities and ending reserve balances for each significant category of discounts and allowances, which constitute variable consideration, were as follows (in thousands):

	Discounts and Chargebacks		Rebates, Wholesaler and GPO Fees		Copay and Returns		Total
Balance as of December 31, 2023	$	478	$	4,234	$	3,916	$	8,628
Provisions	2,644		9,525		6,846		19,015
Credits/payments	(2,467)		(7,211)		(3,852)		(13,530)
Balance as of March 31, 2024	$	655	$	6,548	$	6,910	$	14,113

Adjustments to prior period provisions recorded in the current period were not material.