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Revenues (Tables)
 9 Months Ended
Oct. 03, 2025
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,
2025202420252024
Product revenues:
Gross product revenues$780,272 $646,419 $2,247,263 $1,814,495 
Discounts and allowances(237,342)(168,360)(671,036)(520,332)
Net product revenues542,930 478,059 1,576,227 1,294,163 
Collaboration revenues:
License revenues56,236 60,239 148,017 299,901 
Collaboration services revenues(1,411)1,244 (2,781)7,882 
Collaboration revenues
54,825 61,483 145,236 307,783 
Total revenues$597,755 $539,542 $1,721,463 $1,601,946 
Net product revenues by product were as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
CABOMETYX$539,878 $475,665 $1,568,640 $1,285,423 
COMETRIQ 3,052 2,394 7,587 8,740 
Net product revenues$542,930 $478,059 $1,576,227 $1,294,163 
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,
2025202420252024
Affiliates of Cencora, Inc.
20%20%22%17%
Affiliates of McKesson Corporation20%18%19%16%
Affiliates of CVS Health Corporation15%17%15%16%
Accredo Health, Incorporated11%11%12%10%
Affiliates of Optum Specialty Pharmacy9%10%9%9%
The percentage of trade receivables by customer who individually accounted for 10% or more of our trade receivables were as follows:
September 30, 2025December 31, 2024
Affiliates of McKesson Corporation26%23%
Affiliates of Cencora, Inc.
24%17%
Ipsen Pharma SAS15%18%
Affiliates of CVS Health Corporation13%20%
Cardinal Health, Inc.13%10%
Schedule of Revenues Disaggregated by Geographic Region
Total revenues by geographic region were as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
U.S.$546,461 $481,461 $1,588,413 $1,303,874 
Europe44,966 51,081 114,705 277,343 
Japan6,328 7,000 18,345 20,729 
Total revenues$597,755 $539,542 $1,721,463 $1,601,946 
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 period471,760 50,778 158,607 681,145 
Prior periods(4,363)(2,120)(3,626)(10,109)
Payments and customer credits issued(450,532)(54,009)(153,772)(658,313)
Balance at September 30, 2025
$42,132 $19,594 $38,640 $100,366 
Schedule of Other Assets and Other Liabilities
Contract assets and liabilities were as follows (in thousands):
September 30, 2025December 31, 2024
Contract assets(1)
$1,572 $369 
Contract liabilities:
Current portion(2)
$1,562 $2,739 
Non-current portion(3)
2,270 3,392 
Total contract liabilities$3,832 $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.