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Revenues (Tables)
 12 Months Ended
Jan. 03, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
Revenues consisted of the following (in thousands):
 Year Ended December 31,
 202420232022
Product revenues:
Gross product revenues$2,518,246 $2,272,533 $1,951,169 
Discounts and allowances(708,851)(643,654)(549,926)
Net product revenues1,809,395 1,628,879 1,401,243 
Collaboration revenues:
License revenues349,244 178,635 162,056 
Collaboration services revenues10,062 22,694 47,763 
Total collaboration revenues359,306 201,329 209,819 
Total revenues$2,168,701 $1,830,208 $1,611,062 
Net product revenues by product were as follows (in thousands):
Year Ended December 31,
202420232022
CABOMETYX$1,798,237 $1,614,942 $1,375,909 
COMETRIQ11,158 13,937 25,334 
Net product revenues$1,809,395 $1,628,879 $1,401,243 
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:
 
Year Ended December 31,
 
202420232022
Affiliates of Cencora, Inc. (formerly AmerisourceBergen Corporation)18 %17 %18 %
Affiliates of CVS Health Corporation17 %17 %17 %
Affiliates of McKesson Corporation16 %17 %17 %
Ipsen Pharma SAS15 %8 %10 %
Accredo Health, Incorporated11 %12 %10 %
Affiliates of Optum Specialty Pharmacy9 %10 %10 %
The percentage of trade receivables by customer who individually accounted for 10% or more of our trade receivables were as follows:
 
December 31,
 
20242023
Affiliates of McKesson Corporation23 %21 %
Affiliates of CVS Health Corporation20 %20 %
Ipsen Pharma SAS18 %19 %
Affiliates of Cencora, Inc. (formerly AmerisourceBergen Corporation)17 %17 %
Cardinal Health, Inc.10 %11 %
Schedule of Revenues Disaggregated by Geographic Region
Total revenues by geographic region were as follows (in thousands):
Year Ended December 31,
202420232022
U.S.$1,822,992 $1,645,749 $1,413,743 
Europe318,633 144,969 168,592 
Japan27,076 39,490 28,727 
Total revenues
$2,168,701 $1,830,208 $1,611,062 
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
RebatesTotal
Balance at December 31, 2022
$26,881 $14,924 $35,426 $77,231 
Provision related to sales made in:
Current period419,975 56,349 170,788 647,112 
Prior periods295 (1,222)(2,531)(3,458)
Payments and customer credits issued(421,930)(50,330)(163,785)(636,045)
Balance at December 31, 2023
25,221 19,721 39,898 84,840 
Provision related to sales made in:
Current period470,103 63,354 179,297 712,754 
Prior periods(891)(2,044)(968)(3,903)
Payments and customer credits issued(469,166)(56,086)(180,796)(706,048)
Balance at December 31, 2024
$25,267 $24,945 $37,431 $87,643 
Schedule of Other Assets and Other Liabilities
Contract assets and liabilities were as follows (in thousands):
 
December 31,
 
20242023
Contract assets(1)
$369 $1,321 
Contract liabilities:
Current portion(2)
$2,739 $5,406 
Non-current portion(3)
3,392 5,524 
Total contract liabilities$6,131 $10,930 
____________________
(1) Presented in right-of-use assets and other non-current assets in the accompanying Consolidated Balance Sheets.
(2) Presented in other current liabilities in the accompanying Consolidated Balance Sheets.
(3) Presented in other non-current liabilities in the accompanying Consolidated Balance Sheets.