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Revenues (Tables)
 12 Months Ended
Jan. 02, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
Revenues consisted of the following (in thousands):
 Year Ended December 31,
 202520242023
Product revenues:
Gross product revenues$3,011,807 $2,518,246 $2,272,533 
Discounts and allowances(889,003)(708,851)(643,654)
Net product revenues2,122,804 1,809,395 1,628,879 
Collaboration revenues:
License revenues214,375 349,244 178,635 
Collaboration services revenues(17,053)10,062 22,694 
Collaboration revenues
197,322 359,306 201,329 
Total revenues$2,320,126 $2,168,701 $1,830,208 
Net product revenues by product were as follows (in thousands):
Year Ended December 31,
202520242023
CABOMETYX$2,113,369 $1,798,237 $1,614,942 
COMETRIQ9,435 11,158 13,937 
Net product revenues$2,122,804 $1,809,395 $1,628,879 
Schedule of Concentration Risks
The percentage of total revenues by customer who individually accounted for 10% or more of our total revenues were as follows:
Year Ended December 31,
 
202520242023
Affiliates of Cencora, Inc.22%18%17%
Affiliates of McKesson Corporation19%16%17%
Affiliates of CVS Health Corporation15%17%17%
Accredo Health, Incorporated12%11%12%
Affiliates of Optum Specialty Pharmacy10%9%10%
Ipsen Pharma SAS7%15%8%
The percentage of trade receivables by customer who individually accounted for 10% or more of our trade receivables were as follows:
 
December 31,
 
20252024
Affiliates of McKesson Corporation25%23%
Affiliates of Cencora, Inc. 23%17%
Ipsen Pharma SAS19%18%
Affiliates of CVS Health Corporation13%20%
Cardinal Health, Inc.12%10%
Schedule of Revenues Disaggregated by Geographic Region
Total revenues by geographic region were as follows (in thousands):
Year Ended December 31,
202520242023
U.S.$2,140,371 $1,822,992 $1,645,749 
Europe154,165 318,633 144,969 
Japan25,590 27,076 39,490 
Total revenues
$2,320,126 $2,168,701 $1,830,208 
Schedule of Activities and Ending Reserve Balances for Significant Categories of Discounts and Allowances
The activities and ending reserve balances for each significant category of discounts and allowances (which constitute variable consideration) were as follows (in thousands):
Chargebacks, Discounts for Prompt Payment and Other
Other Customer Credits/Fees and Co-pay Assistance
RebatesTotal
Balance at December 31, 2023
$25,221 $19,721 $39,898 $84,840 
Provision related to sales made in:
Current period470,103 63,354 179,297 712,754 
Prior periods(891)(2,044)(968)(3,903)
Payments and customer credits issued(469,166)(56,086)(180,796)(706,048)
Balance at December 31, 2024
25,267 24,945 37,431 87,643 
Provision related to sales made in:
Current period616,641 69,949 213,391 899,981 
Prior periods(4,340)(2,109)(4,529)(10,978)
Payments and customer credits issued(603,345)(69,173)(210,009)(882,527)
Balance at December 31, 2025
$34,223 $23,612 $36,284 $94,119 
Schedule of Other Assets and Other Liabilities
Contract assets and liabilities were as follows (in thousands):
 
December 31,
 
20252024
Contract assets(1):
$— $369 
Contract liabilities:
   Current portion(2)
$1,115 $2,739 
   Non-current portion(3)
6,112 3,392 
Total contract liabilities$7,227 $6,131 
____________________
(1) Presented in right-of-use assets and other non-current assets in the accompanying Consolidated Balance Sheets.
(2) Presented in other current liabilities in the accompanying Consolidated Balance Sheets.
(3) Presented in other non-current liabilities in the accompanying Consolidated Balance Sheets.