XML 20 R9.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Note 3 - Revenues From Contracts with Customers
9 Months Ended
Mar. 31, 2024
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

Note 3 - Revenue

 

Net 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 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.

 

 

 

 

 

 

 

 

 

Revenue by Segment

 

Net revenue disaggregated by segment for the three and nine months ended March 31, 2024 and 2023, were as follows:

 

  

Three Months Ended

  

Nine Months Ended

 
  

March 31,

  

March 31,

 
  

2024

  

2023

  

2024

  

2023

 
  

(in thousands)

 

Consolidated net revenue:

                

Rx Segment

 $14,025  $13,805  $50,590  $50,486 

Consumer Health Segment

  3,968   8,928   12,436   26,181 

Total consolidated net revenue

 $17,993  $22,733  $63,026  $76,667 

 

Revenue by Product Portfolio

 

Net revenue disaggregated by significant product portfolio in the Rx Segment for the three and nine months ended March 31, 2024 and 2023, were as follows:

 

  

Three Months Ended

  

Nine Months Ended

 
  

March 31,

  

March 31,

 
  

2024

  

2023

  

2024

  

2023

 
  

(in thousands)

 

Rx Segment net revenue:

                

ADHD Portfolio

 $12,326  $8,272  $44,026  $30,977 

Pediatric Portfolio

  1,729   5,266   6,439   18,152 

Other

  (30)  267   125   1,357 

Total Rx Segment net revenue

 $14,025  $13,805  $50,590  $50,486 

 

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

 

Revenue by Geographic Location

 

The Company’s net revenue is predominately within the United States, with insignificant sales internationally.