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Revenues (Tables)
 6 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
Revenues consisted of the following (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Product revenues:
Gross product revenues$563,173 $483,073 $1,084,495 $931,310 
Discounts and allowances(153,527)(136,029)(311,449)(273,968)
Net product revenues409,646 347,044 773,046 657,342 
Collaboration revenues:
License revenues52,747 57,526 91,039 89,593 
Collaboration services revenues7,455 14,857 14,551 28,472 
Total collaboration revenues60,202 72,383 105,590 118,065 
Total revenues$469,848 $419,427 $878,636 $775,407 
Net product revenues by product were as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
CABOMETYX$403,292 $339,159 $765,065 $641,971 
COMETRIQ6,354 7,885 7,981 15,371 
Net product revenues$409,646 $347,044 $773,046 $657,342 
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 June 30,Six Months Ended June 30,
2023202220232022
Affiliates of CVS Health Corporation17 %16 %17 %16 %
Affiliates of McKesson Corporation16 %16 %16 %17 %
Affiliates of AmerisourceBergen Corporation16 %15 %16 %16 %
Accredo Health, Incorporated12 %10 %12 %9 %
Ipsen Pharma SAS8 %15 %8 %12 %
The percentage of trade receivables by customer who individually accounted for 10% or more of our trade receivables were as follows:
June 30, 2023December 31, 2022
Ipsen Pharma SAS19 %20 %
Affiliates of McKesson Corporation18 %22 %
Affiliates of AmerisourceBergen Corporation17 %18 %
Affiliates of CVS Health Corporation15 %18 %
Cardinal Health, Inc.10 %11 %
Schedule of Revenues Disaggregated by Geographic Region
Revenues by geographic region were as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
U.S.$416,043 $349,615 $783,484 $663,680 
Europe36,731 62,240 70,265 96,767 
Japan17,074 7,572 24,887 14,960 
Total revenues$469,848 $419,427 $878,636 $775,407 
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, 2022
$26,881 $14,924 $35,426 $77,231 
Provision related to sales made in:
Current period197,777 27,990 88,998 314,765 
Prior periods311 (1,113)(2,514)(3,316)
Payments and customer credits issued(204,736)(27,119)(84,106)(315,961)
Balance at June 30, 2023
$20,233 $14,682 $37,804 $72,719 
Schedule of Other Assets and Other Liabilities Contract assets and liabilities were as follows (in thousands):
June 30, 2023December 31, 2022
Contract assets (1)
$1,256 $1,659 
Contract liabilities:
Current portion (2)
$6,801 $7,488 
Long-term portion (3)
6,724 6,582 
Total contract liabilities$13,525 $14,070 
____________________
(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.