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Revenue (Tables)
3 Months Ended
Mar. 31, 2024
Grants, U.S. Government Contract and Joint Venture [Abstract]  
Schedule of Accounts Receivable, Unbilled Services, and Deferred Revenue During the three months ended March 31, 2024 and 2023, changes in the Company’s accounts receivables, allowance for credit losses, and deferred revenue balances were as follows (in thousands):
Balance, Beginning of PeriodAdditionsDeductions Balance, End of Period
Accounts receivable:
Three Months Ended March 31, 2024$304,916 $136,510 $(412,370)$29,056 
Three Months Ended March 31, 202396,210 146,424 (115,950)126,684 
Allowance for credit losses(1):
Three Months Ended March 31, 2024$(7,676)$— $— $(7,676)
Three Months Ended March 31, 2023(13,835)— — (13,835)
Deferred revenue:(2)
Three Months Ended March 31, 2024$863,521 $225,000 $(6,148)$1,082,373 
Three Months Ended March 31, 2023549,551 140,324 (49)689,826 
(1)    There was no allowance for credit losses recorded during the three months ended March 31, 2024 or 2023. To estimate the allowance for credit losses, the Company evaluates the credit risk related to its customers based on historical loss experience, economic conditions, the aging of receivables, and customer-specific risks.
(2) Deductions from Deferred revenue generally related to the recognition of revenue once performance obligations on a contract with a customer are met. During the three months ended March 31, 2024, deductions included a $2.2 million reclassification of refundable upfront payments previously included in Deferred revenue to Other current liabilities. During the three months ended March 31, 2024, additions included a $225.0 million reclassification of refundable upfront payment from Other current liabilities to Deferred revenue related to the settlement with Gavi as discussed below. There were no such reclassifications during the three months ended March 31, 2023.
Schedule of Product Revenue
Product sales by the Company’s customer’s geographic location was as follows (in thousands):
Three Months Ended
March 31,
20242023
North America
$(6,361)$— 
Europe90,41657,267
Rest of the world
(1,731)(64,724)
Total product sales revenue$82,324 $(7,457)
Schedule of Revenue Gross to Net Deductions Balances
As of March 31, 2024, changes in the Company’s gross-to-net deductions balances were as follows (in thousands):
Wholesale Distributor Fees, Discounts, and Chargebacks
Product Returns
Total
Balance as of December 31, 2023
$21,072 $84,616 $105,688 
Amounts charged against product sales(1)
16,076 19,296 35,372 
Payments(26,979)(10,999)(37,978)
Balance as of March 31, 2024
$10,169 $92,913 $103,082 
(1)    Amounts charged against product sales include $3.4 million of adjustments made to prior period product sales due primarily to changes in the estimate of product returns.