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Revenues (Tables)
 3 Months Ended
Apr. 04, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
Revenues consisted of the following (in thousands):
Three Months Ended March 31,
20252024
Product revenues:
Gross product revenues$721,711 $563,785 
Discounts and allowances(208,428)(185,262)
Net product revenues513,283 378,523 
Collaboration revenues:
License revenues42,480 44,676 
Collaboration services revenues(316)2,027 
Collaboration revenues
42,164 46,703 
Total revenues$555,447 $425,226 
Net product revenues by product were as follows (in thousands):
Three Months Ended March 31,
20252024
CABOMETYX$510,872 $376,417 
COMETRIQ 2,411 2,106 
Net product revenues$513,283 $378,523 
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 March 31,
20252024
Affiliates of Cencora, Inc.
23 %19 %
Affiliates of McKesson Corporation18 %18 %
Affiliates of CVS Health Corporation14 %17 %
Accredo Health, Incorporated12 %12 %
Affiliates of Optum Specialty Pharmacy10 %10 %
The percentage of trade receivables by customer who individually accounted for 10% or more of our trade receivables were as follows:
March 31, 2025December 31, 2024
Affiliates of Cencora, Inc.
26 %17 %
Affiliates of McKesson Corporation24 %23 %
Ipsen Pharma SAS16 %18 %
Cardinal Health, Inc.12 %10 %
Affiliates of CVS Health Corporation10 %20 %
Schedule of Revenues Disaggregated by Geographic Region
Total revenues by geographic region were as follows (in thousands):
Three Months Ended March 31,
20252024
U.S.$517,184 $381,937 
Europe32,706 35,703 
Japan5,557 7,586 
Total revenues$555,447 $425,226 
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, 2024
$25,267 $24,945 $37,431 $87,643 
Provision related to sales made in:
Current period146,344 19,508 51,313 217,165 
Prior periods(4,271)(2,139)(2,327)(8,737)
Payments and customer credits issued(135,019)(23,177)(47,714)(205,910)
Balance at March 31, 2025
$32,321 $19,137 $38,703 $90,161 
Schedule of Other Assets and Other Liabilities
Contract assets and liabilities were as follows (in thousands):
March 31, 2025December 31, 2024
Contract assets(1)
$326 $369 
Contract liabilities:
Current portion(2)
$2,874 $2,739 
Non-current portion(3)
3,086 3,392 
Total contract liabilities$5,960 $6,131 
____________________
(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 non-current liabilities in the accompanying Condensed Consolidated Balance Sheets.