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Note 3 - Revenues From Contracts with Customers
6 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

Note 3 - Revenues from Contracts with Customers

 

Net product revenue in the Rx Segment consists of sales of prescription pharmaceutical products, principally to a limited number of wholesale distributors and pharmacies in the United States. Rx Segment net product revenue is recognized at the point in time that control of the product transfers to the customer, which typically aligns with shipping terms (i.e., upon delivery), generally “free-on-board” destination when shipped domestically within the United States, consistent with contractual terms.

 

The Company generates Consumer Health Segment revenue from sales of various consumer health products through e-commerce platforms and direct-to-consumer marketing channels. Revenue is generally recognized “free-on-board” shipping point, consistent with contractual terms and aligning with the transfer of control of the products. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction that are collected by the Company from customers are excluded from revenue. Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost, and are included in cost of sales.

 

Savings offers, rebates, and wholesaler chargebacks reflect the terms of underlying agreements, which may vary. Accordingly, actual amounts will depend on the mix of sales by product and contracting entity. Future returns may not follow historical trends. The Company’s periodic adjustments of its estimates are subject to time delays between the initial product sale, and the ultimate reporting and settlement of deductions. The Company continually monitors these provisions and does not believe variances between actual and estimated amounts have been or will be material.

 

Revenues by Segment. Net product revenue disaggregated by segment for the three and six months ended December 31, 2023 and 2022 were as follows:

 

 

  

Three Months Ended

  

Six Months Ended

 
  

December 31,

  

December 31,

 
  

2023

  

2022

  

2023

  

2022

 
  

(in thousands)

 

Consolidated net revenue:

                

Rx Segment

 $18,748  $18,029  $36,565  $36,681 

Consumer Health Segment

  4,186   8,250   8,468   17,253 

Total consolidated net revenue

 $22,934  $26,279  $45,033  $53,934 

 

Revenues by Product Portfolio. Net product revenue disaggregated by significant product portfolio in the Rx Segment for the three and six months ended December 31, 2023 and 2022 were as follows:

 

  

Three Months Ended

  

Six Months Ended

 
  

December 31,

  

December 31,

 
  

2023

  

2022

  

2023

  

2022

 
  

(in thousands)

 

Rx Segment net revenue:

                

ADHD Portfolio

 $16,572  $11,120  $31,700  $22,705 

Pediatric Portfolio

  2,145   6,328   4,710   12,886 

Other

  31   581   155   1,090 

Total Rx Segment net revenue

 $18,748  $18,029  $36,565  $36,681 

 

Other includes discontinued products in the Rx Segment. The Consumer Health Segment is comprised of one product portfolio, the Consumer Health Portfolio.

 

Revenues by Geographic location. The Company’s revenues are predominately within the United States, with insignificant sales internationally.