Revenue |
The following table disaggregates total revenues from external customers by product sales, royalty revenue, and collaboration and license revenue (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
|
|
|
|
|
|
|
|
|
Product sales: |
|
|
|
|
|
|
|
|
Crysvita |
$ |
75,697 |
|
|
$ |
42,678 |
|
|
$ |
21,422 |
|
Mepsevii |
|
30,441 |
|
|
|
20,637 |
|
|
|
16,035 |
|
Dojolvi |
|
70,633 |
|
|
|
55,612 |
|
|
|
39,560 |
|
Evkeeza |
|
3,642 |
|
|
|
— |
|
|
|
— |
|
Total product sales |
|
180,413 |
|
|
|
118,927 |
|
|
|
77,017 |
|
Crysvita royalty revenue |
|
182,652 |
|
|
|
21,692 |
|
|
|
17,951 |
|
Collaboration and license revenue: |
|
|
|
|
|
|
|
|
Crysvita collaboration revenue in Profit-Share Territory |
|
69,705 |
|
|
|
215,024 |
|
|
|
171,198 |
|
Crysvita royalty revenue in European Territory |
|
— |
|
|
|
— |
|
|
|
244 |
|
Daiichi Sankyo |
|
1,479 |
|
|
|
7,686 |
|
|
|
84,996 |
|
Total collaboration and license revenue |
|
71,184 |
|
|
|
222,710 |
|
|
|
256,438 |
|
Total revenues |
$ |
434,249 |
|
|
$ |
363,329 |
|
|
$ |
351,406 |
|
The following table disaggregates total revenues based on geographic location (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
North America |
$ |
307,149 |
|
|
$ |
281,088 |
|
|
$ |
301,110 |
|
Latin America |
|
77,342 |
|
|
|
44,711 |
|
|
|
23,636 |
|
Europe |
|
47,534 |
|
|
|
36,369 |
|
|
|
26,660 |
|
Japan |
|
2,224 |
|
|
|
1,161 |
|
|
|
— |
|
Total revenues |
$ |
434,249 |
|
|
$ |
363,329 |
|
|
$ |
351,406 |
|
The following table presents the activity and ending balances for sales-related accruals and allowances (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
Balance of product sales reserve at beginning of year |
$ |
11,487 |
|
|
$ |
7,181 |
|
|
$ |
3,913 |
|
Provisions |
|
18,761 |
|
|
|
13,525 |
|
|
|
9,586 |
|
Payments |
|
(12,746 |
) |
|
|
(9,613 |
) |
|
|
(6,120 |
) |
Adjustments |
|
(473 |
) |
|
|
394 |
|
|
|
(198 |
) |
Balance of product sales reserve at end of year |
$ |
17,029 |
|
|
$ |
11,487 |
|
|
$ |
7,181 |
|
The following table presents changes in the contract liabilities for the years ended December 31, 2023 and 2022 (in thousands):
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2023 |
|
|
2022 |
|
Balance of contract liabilities at beginning of period |
$ |
1,479 |
|
|
$ |
9,076 |
|
Additions |
|
— |
|
|
|
89 |
|
Deductions |
|
(1,479 |
) |
|
|
(7,686 |
) |
Balance of contract liabilities at end of period, net |
$ |
— |
|
|
$ |
1,479 |
|
See Note 8 for additional details on contract liabilities activities. The Company’s largest accounts receivable balance was from a collaboration partner and was 53% and 68% of the total accounts receivable balance as of December 31, 2023 and 2022, respectively.
|