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Revenue
12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue
6.
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.