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Revenue (Tables)
6 Months Ended
Jun. 30, 2024
Grants, U.S. Government Contract and Joint Venture [Abstract]  
Schedule of Accounts Receivable, Unbilled Services, and Deferred Revenue During the six months ended June 30, 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:
Six Months Ended June 30, 2024$304,916 $672,326 $(937,462)$39,780 
Six Months Ended June 30, 202396,210 793,039 (486,684)402,565 
Allowance for credit losses(1):
Six Months Ended June 30, 2024$(7,675)$— $— $(7,675)
Six Months Ended June 30, 2023(13,835)— 6,160 (7,675)
Deferred revenue:(2)
Six Months Ended June 30, 2024$863,520 $365,150 $(28,849)$1,199,821 
Six Months Ended June 30, 2023549,551 414,816 (56,957)907,410 
(1)    There was no allowance for credit losses recorded during the six months ended June 30, 2024 or 2023. During the six months ended June 30, 2023, there was a $6.2 million reversal of a credit loss allowance due to the collection of a previously recognized allowance for credit losses. 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 six months ended June 30, 2024, deductions included a $2.2 million reclassification of refundable upfront payments previously included in Deferred revenue to Other current liabilities. During the six months ended June 30, 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 six months ended June 30, 2023.
Schedule of Product Revenue
Product sales by the Company’s customer’s geographic location was as follows (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2024202320242023
North America
$1,607 $— $(4,755)$— 
Europe1691,51890,58658,785
Rest of the world
18,128283,64516,397218,921
Total product sales revenue$19,904 $285,163 $102,228 $277,706 
Schedule of Revenue Gross to Net Deductions Balances
As of June 30, 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)
15,436 21,302 36,738 
Credits/deductions
(35,621)(51,331)(86,952)
Balance as of June 30, 2024
$887 $54,587 $55,474 
(1)    Amounts charged against product sales include $4.0 million of adjustments made to prior period product sales due primarily to changes in the estimate of product returns.