Description of Business and Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2025

Accounting Policies [Abstract]

Schedule of Segment Revenues and Significant Expense Categories in Consolidated Statements of Operations

The table below shows the details of the Company’s segment revenues and significant expense categories regularly provided to and reviewed by the CODM as well as other significant segment items included in consolidated net income in the condensed consolidated statements of operations:

	Three Months Ended March 31,
Revenues	2025			2024
Afrezza	$	14,887		$	14,438
V-Go		4,086			4,326
Collaborations and services		29,376			24,848
Royalties		30,005			22,651
Total revenues		78,354			66,263
Less significant segment expenses (income):
Cost of goods sold – commercial		3,768			3,819
Cost of revenue – collaborations and services		13,748			14,779
Research and development		11,022			10,013
Selling		13,762			11,601
General and administrative		11,252			10,728
Interest income, net		(1,956	)		(3,434	)
Interest expense, net		10,632			9,262
Other segment items(1)		2,968			(1,135	)
Consolidated net income	$	13,158		$	10,630

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(1) Includes loss (gain) on foreign currency transaction and income tax expense.

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 condensed consolidated statement of operations is comprised of revenue generated from product sales, services and royalties as shown below (in thousands):

	Three Months Ended March 31,
	2025		2024
Net revenue:
Product revenue (1)	$	47,791	$	43,228
Services (2)		558		384
Royalties (3)		30,005		22,651
Total net revenue	$	78,354	$	66,263

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(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 9) for UT as well as arrangements with other collaboration partners. See Note 9 – Collaborations, Licensing and Other Arrangements.

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