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Revenue from Contracts with Customers
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers
3. Revenue from Contracts with Customers
The following table summarizes revenue by source as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
Major Products/Service Lines (in thousands)2024202320242023
    Product revenue, net(1)
$374,601 $319,508 $1,136,670 $925,848 
    License and royalty revenues4,133 438 6,130 16,582 
Total revenues$378,734 $319,946 $1,142,800 $942,430 
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(1)The Company’s product revenue includes PYLARIFY and DEFINITY among other products. This category represents the delivery of physical goods. The Company applies the same revenue recognition policies and judgments for all its principal products.
The Company classifies its revenues into three product categories: Radiopharmaceutical Oncology, Precision Diagnostics, and Strategic Partnerships and Other Revenue. Radiopharmaceutical Oncology includes PYLARIFY and AZEDRA. In the first quarter of 2024, the Company discontinued the production of AZEDRA. Precision Diagnostics includes DEFINITY, TechneLite and other diagnostic imaging products. Strategic Partnerships and Other Revenue primarily includes out-licensing arrangements and partnerships for the Company’s biomarker solutions, digital solutions, and radiotherapeutic platforms, inclusive of two investigational stage diagnostic agents, MK-6240 and NAV-4694. On August 2, 2023, the Company sold its rights to the RELISTOR net sales royalty asset (the “RELISTOR royalty asset”) under its license agreement with Bausch Health Companies, Inc. (“Bausch”); the Company retained the rights to future sales-based milestone payments.
Revenue by product category on a net basis is as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)2024202320242023
   PYLARIFY$259,756 $215,428 $791,881 $621,419 
   Other radiopharmaceutical oncology— 848 384 2,383 
Total radiopharmaceutical oncology259,756 216,276 792,265 623,802 
   DEFINITY76,965 67,336 231,629 206,688 
   TechneLite20,480 23,272 70,380 65,853 
   Other precision diagnostics6,282 5,740 18,039 17,002 
Total precision diagnostics103,727 96,348 320,048 289,543 
Strategic partnerships and other revenue15,251 7,322 30,487 29,085 
Total revenues$378,734 $319,946 $1,142,800 $942,430 
The Company is required to allocate a portion of its revenue received from commercial contracts to future reporting periods to the extent the Company had performance obligations that extended beyond one year. However, the Company’s performance obligations are typically part of contracts that have an original expected duration of one year or less. As such, the Company is not disclosing the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied (or partially satisfied) as of the end of the reporting period.