Revenues

6 Months Ended

Jun. 30, 2025

Revenue from Contract with Customer [Abstract]

Revenues

Note 13. Revenues

The Company sells Auvelity, Sunosi, and Symbravo in the United States through the Distributors. The Company also sells Sunosi to Distributors in Canada and on a product supply basis to Pharmanovia. Sunosi is subsequently sold by Pharmanovia in certain ex-U.S. markets. For the six months ended June 30, 2025, the Company’s three largest customers represented approximately 32%, 29%, and 27% of the Company’s gross product sales.

Royalty revenue is related to sales of Sunosi by Pharmanovia in certain ex-U.S. markets.

The following table presents a summary of total revenues by product:

	Three months ended June 30,				Six months ended June 30,
	2025		2024		2025		2024
Product sales, net
Auvelity	$	119,642	$	65,025	$	215,873	$	118,420
Sunosi		28,907		21,495		53,034		42,196
Symbravo		410		—		410		—
Total product sales, net		148,959		86,520		269,317		160,616
Sunosi royalty revenue		1,083		646		2,188		1,549
Total revenues	$	150,042	$	87,166	$	271,505	$	162,165

The following table presents a summary of total revenues by geographic location:

	Three months ended June 30,				Six months ended June 30,
	2025		2024		2025		2024
Product sales, net
United States	$	146,446	$	85,444	$	265,859	$	158,715
Outside of the United States		2,513		1,076		3,458		1,901
Total product sales, net		148,959		86,520		269,317		160,616
Royalty revenue
Outside of the United States		1,083		646		2,188		1,549
Total revenues	$	150,042	$	87,166	$	271,505	$	162,165

For the six months ended June 30, 2025, product sales, net includes adjustments for provisions for product sales made in 2024 resulting from changes in estimates of $1.1 million for Auvelity and $0.9 million for Sunosi. For the six months ended June 30, 2024, product sales, net includes adjustments for provisions for product sales made in 2023 resulting from changes in estimates of $1.1 million for Auvelity and $0.6 million for Sunosi.