Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

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,
	2024		2023		2022
Net revenue:
Product revenue (1)	$	178,557	$	126,054	$	81,073
Services (2)		4,612		929		3,098
Royalties (3)		102,335		71,979		15,599
Total net revenue	$	285,504	$	198,962	$	99,770

_________________________

(1)Amounts represent the 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 – Collaborations, Licensing and Other Arrangements.

(3)Amounts represent royalties on UT’s net revenue from Tyvaso DPI sales.

	Year Ended December 31,
	2024		2023		2022
Cost of goods sold and cost of revenue:
Product revenue	$	73,737	$	61,989	$	55,071
Services		2,865		782		2,426
Total cost of goods sold and cost of revenue	$	76,602	$	62,771	$	57,497