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Revenues (Tables)
 6 Months Ended
Jun. 28, 2024
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,
2024202320242023
Product revenues:
Gross product revenues$604,291 $563,173 $1,168,076 $1,084,495 
Discounts and allowances(166,710)(153,527)(351,972)(311,449)
Net product revenues437,581 409,646 816,104 773,046 
Collaboration revenues:
License revenues194,986 52,747 239,662 91,039 
Collaboration services revenues4,611 7,455 6,638 14,551 
Total collaboration revenues199,597 60,202 246,300 105,590 
Total revenues$637,178 $469,848 $1,062,404 $878,636 
Net product revenues by product were as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
CABOMETYX$433,341 $403,292 $809,758 $765,065 
COMETRIQ4,240 6,354 6,346 7,981 
Net product revenues$437,581 $409,646 $816,104 $773,046 
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,
2024202320242023
Ipsen Pharma SAS30 %8 %21 %8 %
Affiliates of Cencora, Inc. (formerly AmerisourceBergen Corporation)
14 %16 %16 %16 %
Affiliates of McKesson Corporation14 %16 %15 %16 %
Affiliates of CVS Health Corporation13 %17 %15 %17 %
Accredo Health, Incorporated9 %12 %10 %12 %
The percentage of trade receivables by customer who individually accounted for 10% or more of our trade receivables were as follows:
June 30, 2024December 31, 2023
Ipsen Pharma SAS50 %19 %
Affiliates of Cencora, Inc. (formerly AmerisourceBergen Corporation)14 %17 %
Affiliates of McKesson Corporation13 %21 %
Affiliates of CVS Health Corporation9 %20 %
Cardinal Health, Inc.7 %11 %
Schedule of Revenues Disaggregated by Geographic Region
Total revenues by geographic region were as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
U.S.$440,476 $416,043 $822,413 $783,484 
Europe190,559 36,731 226,262 70,265 
Japan6,143 17,074 13,729 24,887 
Total revenues$637,178 $469,848 $1,062,404 $878,636 
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, 2023
$25,221 $19,721 $39,898 $84,840 
Provision related to sales made in:
Current period228,217 31,790 95,257 355,264 
Prior periods(1,088)(2,043)(161)(3,292)
Payments and customer credits issued(219,316)(30,374)(95,620)(345,310)
Balance at June 30, 2024
$33,034 $19,094 $39,374 $91,502 
Schedule of Other Assets and Other Liabilities
Contract assets and liabilities were as follows (in thousands):
June 30, 2024December 31, 2023
Contract assets (1)
$1,469 $1,321 
Contract liabilities:
Current portion (2)
$3,443 $5,406 
Long-term portion (3)
4,420 5,524 
Total contract liabilities$7,863 $10,930 
____________________
(1)     Presented in right-of-use assets and other non-current assets in the accompanying Condensed Consolidated Balance Sheets.
(2)     Presented in other current liabilities in the accompanying Condensed Consolidated Balance Sheets.
(3)     Presented in other long-term liabilities in the accompanying Condensed Consolidated Balance Sheets.