Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2025

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 the

following (in thousands):

	Year Ended December 31,
	2025		2024		2023
Net revenue:
Product revenue (1)	$	216,522	$	178,557	$	126,054
Services (2)		4,328		4,612		929
Royalties (3)		128,116		102,335		71,979
Total net revenue	$	348,966	$	285,504	$	198,962

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(1)Amounts represent the revenue from Afrezza, Furoscix and V-Go sales to wholesalers and specialty pharmacies and from the manufacture of Tyvaso DPI delivered 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 earned based on UT’s net revenue from Tyvaso DPI sales.

	Year Ended December 31,
	2025		2024		2023
Cost of goods sold and cost of revenue:
Product revenue	$	86,960	$	73,737	$	61,989
Services		1,000		2,865		782
Total cost of goods sold and cost of revenue	$	87,960	$	76,602	$	62,771