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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Summary of Revenue and Cost of Revenue and Goods Sold Generated From Product Sales, Services and Royalties

The Company’s net revenue and cost of revenue and goods sold as shown on the consolidated statement of operations is comprised of revenue generated from product sales, services and royalties as shown below (in thousands):

 

 

Year Ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Net revenue:

 

 

 

 

 

 

 

 

 

Product revenue (1)

 

$

126,054

 

 

$

81,073

 

 

$

39,435

 

Services (2)

 

 

929

 

 

 

3,098

 

 

 

36,007

 

Royalties (3)

 

 

71,979

 

 

 

15,599

 

 

 

 

Total net revenue

 

$

198,962

 

 

$

99,770

 

 

$

75,442

 

_________________________

(1)
Amounts represent the net revenue from Afrezza and V-Go sales to wholesalers and specialty pharmacies and Tyvaso DPI to UT.
(2)
Amounts represent revenue generated from the Company’s collaboration arrangements, including Next-Gen R&D Services (as defined in Note 11) for UT as well as arrangements with other collaboration partners. See Note 11 – Collaboration, Licensing and Other Arrangements.
(3)
Amounts represent royalties on UT’s net revenue from Tyvaso DPI sales.

 

 

 

Year Ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Cost of goods sold and cost of revenue:

 

 

 

 

 

 

 

 

 

Product revenue

 

$

61,989

 

 

$

55,071

 

 

$

16,833

 

Services

 

 

782

 

 

 

2,426

 

 

 

22,024

 

Total cost of goods sold and cost of revenue

 

$

62,771

 

 

$

57,497

 

 

$

38,857