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Revenues (Tables) | 9 Months Ended
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Sep. 30, 2022
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | Revenues consisted of the following (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021 |  |
Product revenues: |  |  |  |  |  |  |  |  |
Gross product revenues | $ | 496,141 |  |  | $ | 357,462 |  |  | $ | 1,427,451 |  |  | $ | 1,051,871 |  |  |
Discounts and allowances | (129,659) |  |  | (94,345) |  |  | (403,627) |  |  | (277,294) |  |  |
Net product revenues | 366,482 |  |  | 263,117 |  |  | 1,023,824 |  |  | 774,577 |  |  |
Collaboration revenues: |  |  |  |  |  |  |  |  |
License revenues | 34,384 |  |  | 49,694 |  |  | 123,977 |  |  | 116,862 |  |  |
Collaboration services revenues | 10,872 |  |  | 15,612 |  |  | 39,344 |  |  | 92,391 |  |  |
Total collaboration revenues | 45,256 |  |  | 65,306 |  |  | 163,321 |  |  | 209,253 |  |  |
Total revenues | $ | 411,738 |  |  | $ | 328,423 |  |  | $ | 1,187,145 |  |  | $ | 983,830 |  |  |
Net product revenues by product were as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021 |  |
CABOMETYX | $ | 361,385 |  |  | $ | 259,791 |  |  | $ | 1,003,356 |  |  | $ | 759,000 |  |  |
COMETRIQ | 5,097 |  |  | 3,326 |  |  | 20,468 |  |  | 15,577 |  |  |
Net product revenues | $ | 366,482 |  |  | $ | 263,117 |  |  | $ | 1,023,824 |  |  | $ | 774,577 |  |  |
Schedule of Concentration Risks | The percentage of total revenues by customer who individually accounted for 10% or more of our total revenues were as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021 |  |
Affiliates of McKesson Corporation | 18 | % |  | 15 | % |  | 18 | % |  | 15 | % |  |
Affiliates of CVS Health Corporation | 19 | % |  | 16 | % |  | 17 | % |  | 15 | % |  |
Affiliates of AmerisourceBergen Corporation | 18 | % |  | 16 | % |  | 16 | % |  | 14 | % |  |
Ipsen Pharma SAS | 8 | % |  | 12 | % |  | 11 | % |  | 17 | % |  |
Accredo Health, Incorporated | 11 | % |  | 9 | % |  | 10 | % |  | 8 | % |  |
The percentage of trade receivables by customer who individually accounted for 10% or more of our trade receivables were as follows:
| September 30, 2022 |  | December 31, 2021 |  |  |  |
Affiliates of McKesson Corporation | 23 | % |  | 10 | % |  |  |  |
Ipsen Pharma SAS | 21 | % |  | 50 | % |  |  |  |
Affiliates of AmerisourceBergen Corporation | 20 | % |  | 11 | % |  |  |  |
Affiliates of CVS Health Corporation | 15 | % |  | 9 | % |  |  |  |
Schedule of Revenues Disaggregated by Geographic Region | Revenues by geographic region were as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021 |  |
U.S. | $ | 369,480 |  |  | $ | 266,436 |  |  | $ | 1,033,160 |  |  | $ | 783,583 |  |  |
Europe | 34,818 |  |  | 38,095 |  |  | 131,585 |  |  | 162,822 |  |  |
Japan | 7,440 |  |  | 23,892 |  |  | 22,400 |  |  | 37,425 |  |  |
Total revenues | $ | 411,738 |  |  | $ | 328,423 |  |  | $ | 1,187,145 |  |  | $ | 983,830 |  |  |
Schedule of Activities and Ending Reserve Balances for Significant Categories of Discounts and Allowances | The activities and ending reserve balances for each significant category of discounts and allowances, which constitute variable consideration, were as follows (in thousands):
| Chargebacks, Discounts for Prompt Payment and Other |  | Other Customer Credits/Fees and Co-pay Assistance |  | Rebates |  |  |  | Total
Balance at December 31, 2021 | $ | 14,625 |  |  | $ | 8,875 |  |  | $ | 24,825 |  |  |  |  | $ | 48,325 |
Provision related to sales made in: |  |  |  |  |  |  |  |  |
Current period | 261,143 |  |  | 36,847 |  |  | 105,280 |  |  |  |  | 403,270 |
Prior periods | 632 |  |  | (169) |  |  | (106) |  |  |  |  | 357 |
Payments and customer credits issued | (255,002) |  |  | (32,765) |  |  | (98,996) |  |  |  |  | (386,763) |
Balance at September 30, 2022 | $ | 21,398 |  |  | $ | 12,788 |  |  | $ | 31,003 |  |  |  |  | $ | 65,189 |
Schedule of Other Assets and Other Liabilities | Contract assets and liabilities were as follows (in thousands):
| September 30, 2022 |  | December 31, 2021
Contract assets (1) | $ | 364 |  |  | $ | 1,665 |
Contract liabilities: |  |  |
Current portion (2) | $ | 6,932 |  |  | $ | 7,814 |
Long-term portion (3) | 6,491 |  |  | 8,739 |
Total contract liabilities | $ | 13,423 |  |  | $ | 16,553 |
____________________ (1) Presented in other long-term assets in the accompanying Condensed Consolidated Balance Sheets. (2) Presented in other current liabilities in the accompanying Condensed Consolidated Balance Sheets. (3) Presented in the long-term portion of deferred revenues in the accompanying Condensed Consolidated Balance Sheets

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